Davy Research

Market Comment

Robust US data bring March rate hike into focus

DAVY VIEW

The publication of the February minutes earlier in the week and hawkish comments by Fed participants have brought a potential March rate hike into focus. While Fed-fund futures markets continue to view that as a one-in-three chance, a succession of positive data on the US economy might prompt the Fed to move earlier than most expect – key among them are GDP and payroll data in the coming weeks. Yesterday’s jobless claims suggest the labour market continued to tighten in February, while Michigan consumer sentiment is expected to be revised up today.

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