Fears the Fed will keep at it for a while yet
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Tuesday 20th September 2022
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It was a quiet session overnight with the UK on holiday and a fair bit of attention on a funeral service in London. Nonetheless bond yields continued to push higher. JBWere\\u2019s Sally Auld says markets have priced in rate rises this week of 80 basis points in both the UK and US, meaning there\\u2019s some chance the hike will be more than 75. \\u2018Keeping at it\\u2019 was the title of Paul Volcker\\u2019s book and that seems to be the Fed\\u2019s philosophy right now \\u2013 and for other central banks, Japan and China excluded. Canada\'s inflation numbers today will give us a good indication of whether going hard and going early helps contain inflation any quicker.
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