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February 28, 2017 By Peter Boockvar

Dudley, Williams and a March Rate Hike

While he’s not a voting member, SF Fed President John Williams did move markets with his comment that a March hike is under “serious consideration”

And then we had a member of the Fed troika setting us up for a March hike as well:

*FED’S DUDLEY: CASE FOR RATE RISE MORE COMPELLING, CNN REPORTS

*DUDLEY SAYS FAIRLY SOON MEANS RELATIVELY NEAR FUTURE

‘Compelling’ is not thrown around lightly and he’s trying to define ‘fairly soon’.

Rate hike odds for March literally spiked after Dudley’s comments to 70% vs 50% at yesterday’s close and up from 40% on Friday. I repeat my belief that we’ll see a hike in March.

The 2s/10s spread in response fell to the narrowest since the day of the election. The spread right now is 113 bps vs 100 bps on November 8th and 116.5 bps the day after. It was as wide as 136 bps on December 22nd.
Screen Shot 2017-02-28 at 5.16.14 PM

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About Peter

Peter is the Chief Investment Officer at Bleakley Advisory Group and is a CNBC contributor. Each day The Boock Report provides summaries and commentary on the macro data and news that matter, with analysis of what it all means and how it fits together.

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Disclaimer - Peter Boockvar is an independent economist and market strategist. The Boock Report is independently produced by Peter Boockvar. Peter Boockvar is also the Chief Investment Officer of Bleakley Financial Group, LLC a Registered Investment Adviser. The Boock Report and Bleakley Financial Group, LLC are separate entities. Content contained in The Boock Report newsletters should not be construed as investment advice offered by Bleakley Financial Group, LLC or Peter Boockvar. This market commentary is for informational purposes only and is not meant to constitute a recommendation of any particular investment, security, portfolio of securities, transaction or investment strategy. The views expressed in this commentary should not be taken as advice to buy, sell or hold any security. To the extent any of the content published as part of this commentary may be deemed to be investment advice, such information is impersonal and not tailored to the investment needs of any specific person. No chart, graph, or other figure provided should be used to determine which securities to buy or sell. Consult your advisor about what is best for you.

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