Wall St drops as Treasury yields surge, Powell speaks

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Go back to Wall St drops as Treasury yields surge, Powell speaks

Barclays now expects the Fed to hike in December

October 19, 2023 6:18 AM EDT

Barclays has adjusted its interest rate projection in response to recent communication from the Federal Open Market Committee (FOMC), which suggests a potential pause at the upcoming November meeting.

Despite the strength seen in the labor market, economic activity, and Consumer Price Index (CPI) inflation data, Barclays decided to postpone the previously anticipated 25 basis point rate hike to December.

Rising bond yields provide the FOMC with more time to assess the incoming data before considering another rate hike, according to the banks strategists led by Marc... More