Bank Of America Predicts One More Fed Rate Hike In November
Portfolio Pulse from Piero Cingari
Bank of America predicts one more Federal Reserve rate hike in November, contradicting the market consensus and Goldman Sachs' stance. The bank also anticipates a single additional 25 basis point hike in 2023, culminating in a terminal rate range of 5.5-5.75%. This could potentially strengthen the US dollar, as monitored by the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP).
September 18, 2023 | 4:27 pm
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NEUTRAL IMPACT
Bank of America's unexpected prediction of a Fed rate hike in November could impact its own stock.
Bank of America's unexpected prediction could potentially impact its own stock. However, the direction of the impact is uncertain as it would depend on various factors including market reaction to the prediction.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Bank of America's prediction of a Fed rate hike could potentially strengthen the US dollar, impacting the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP).
Bank of America's prediction of a Fed rate hike could potentially strengthen the US dollar. As UUP tracks the performance of the US dollar against a basket of foreign currencies, a stronger dollar would likely increase the value of UUP.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80