Global View December 2015: Was the Fed's New Monetary Policy A Success?

by Michael J. Howell18. December 2015 15:03

To the extent that the Fed raised rates smoothly by 25bp without any serious dislocations, apart from a small jump in the US dollar and a further widening in credit spreads, the answer is yes. However, set into a wider context of credit market control, the truth is that it will take weeks or months to fully understand. But the real story, for us, is that the US markets are tightening faster than the Fed! A flatter US Treasury curve may be the logical result.


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