FT Unhedged talks financial crises and Fed rates with ASR’s Ian Harnett
14th MAR. 2023
Rob Armstrong notes “the types of financial wreckage that have forced rate pivots before have been extremely bloody….” citing the ASR chart which plots major crises next to the fed funds rate.
“(Rather) than an imminent halt to the rate-hiking cycle is a gradual pace until inflation is conquered or, as ASR’s Ian Harnett puts it, ‘there is enough blood on the street’.”
“In that sense the bond market probably overshot yesterday and may soon correct. Mercifully, Fed officials have more than a week to let the dust settle and think through their next move. The bond market has no such luxury...”
•To read the full article, see FT Unhedged, HERE (FT subscription may be required)
•ASR clients can read Ian Harnett on: The Secondary Banking Crisis of 2023… (13 March 2023)
•To request a copy as part of a free trial, please reply HERE