Cheap Convexity

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Cheap Convexity
Cheap Convexity
Central Banks are Nervous, Which is Hawkish

Central Banks are Nervous, Which is Hawkish

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Jon Turek
Oct 11, 2021
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Cheap Convexity
Cheap Convexity
Central Banks are Nervous, Which is Hawkish
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What we have learned over the last six weeks is that central banks are nervous.

The Fed raised dots across the forecast horizon, the BoE pulled forward the first hike, Norges in Norway hiked and committed to hiking more in December. In emerging markets, the BCB in Brazil hiked 100 bps and committed to the same pace, SARB in South Africa raised growth an…

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