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Munis were little changed while long UST improved and equities ended in the red after the FOMC raised the fed funds rate target 75bps to a range of 3% to 3.25% and members are leaning toward a rate of 4.4% by yearend.
September 21 -
Short triple-A yields have risen more than 30 basis points over the past eight sessions while the long bond has risen 19, per Refinitiv MMD data.
September 20 -
While a full basis point increase will be discussed, analysts see the Fed increasing 75 basis points to a 3% to 3.25% range, with a split between those who say inflation is worsening and those that believe it peaked.
September 20 -
Triple-A muni yields rose another five basis points on the short end while UST rose up to seven. UST yields are the highest since 2007.
September 19 -
Municipals saw more cheapening on the short end Friday as selling pressure persisted all week.
September 16 -
"The Fed is going to need great skill and also some good luck to achieve what we sometimes call a soft landing," Yellen said.
September 12 -
Federal Reserve Governor Christopher Waller said he favors "another significant" increase in interest rates when the central bank meets later this month, signaling his backing for a 75 basis-point move.
September 9 -
"I think that we've got a good plan in place. We could very well do 75 in September," he said.
September 8 -
"We need to act now, forthrightly, strongly as we have been doing," Powell said Thursday in remarks at the Cato Institute's monetary policy conference.
September 8 -
Federal Reserve Bank of Cleveland President Loretta Mester also reiterated that she does not expect the Fed to cut rates next year, noting that policy makers need to keep inflation expectations from becoming unanchored.
September 7