From a piece on eFX -
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- "We do not expect fireworks from the Fed on Wednesday. It is possible that the Fed chooses to conclude QE early, though even if they do, the ultimate impact on US yields could be relatively muted given that a March hike is already fully priced and that UST valuations have closed much of the valuation gap that had persisted through late-2021," JPM notes.
- "This may limit the extent of tactical upside for the dollar against low-yielders even with a hawkish outcome," JPM adds.