External broker reports(aggregated public sources), ABN AMRO

ABN AMRO

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External broker reports(aggregated public sources)

SMFG - Least Achieved of FY24 Forecast, With Lowest ROE of Mega's & Less JPY Bond Leverage

It's A Duration Crisis, Not (Yet) A Credit Crisis… Bonds, Not Banks Look Dangerous

Macroeconomics

<ul><li>The FOMC raised rates by 25bp, as widely expected, taking the target range for the fed funds rate to a new 22-year high of 5.25-5.50%.</li><li>The only notable change to the accompanying statement was a small upgrade to the assessment of the economy, which is now judged to be growing ‘moderately’ rather than ‘modestly’, reflecting the recent resilience in US economic data. In the press conference, reporters struggled to tease out clues from Chair Powell over future policy moves.</li><li>Specifically, Powell was asked if the pause in June means the Fed is now moving to a ‘every other meeting’ hiking pace, but Powell responded by saying that a ‘more gradual pace’ of hikes could, for instance, mean raising rates every 2/3 meetings.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The FOMC raised rates by 25bp, as widely expected, taking the target range for the fed funds rate to a new 22-year high of 5.25-5.50%.The only notable change to the accompanying statement was a small upgrade to the assessment of the economy, which is now judged to be growing ‘moderately’ rather than ‘modestly’, reflecting the recent resilience in US economic data. In the press conference, reporters struggled to tease out clues from Chair Powell over future policy moves.Specifically, Powell was asked if the pause in June means the Fed is now moving to a ‘every other meeting’ hiking pace, but Powell responded by saying that a ‘more gradual pace’ of hikes could, for instance, mean raising rates every 2/3 meetings.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Fed raises rates but refuses to guide on next move