Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cam Hui has been professionally involved in the financial markets since 1985 in a variety of roles, both as a quantitative equity portfolio manager and as a sell-side analyst. He graduated with a degree in Computer Science from the University of British Columbia in 1980 and obtained his CFA Charter in 1989.

Cross-Asset Strategist & Quantitative Analyst

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Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

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Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>We believe the market hasn’t discounted Powell’s political need for unanimity for the first decision to cut rates in an election year. </li>
<li>Current consensus expectations call for the first quarter-point rate cut at the June FOMC meeting, which is probably a stretch for FOMC members.</li>
<li>It will be difficult to form a consensus for a June cut in the absence of either lower inflation data or weakness in the labour market.</li>
</ul>


We believe the market hasn’t discounted Powell’s political need for unanimity for the first decision to cut rates in an election year. 
Current consensus expectations call for the first quarter-point rate cut at the June FOMC meeting, which is probably a stretch for FOMC members.
It will be difficult to form a consensus for a June cut in the absence of either lower inflation data or weakness in the labour market.


Why the First Fed Rate Cut Will Be Later Than June