The Fed will need to step up the game, peak rates not even in sight yet – Nordea
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Economists at Nordea think central banks still have a lot of work to do, and risks remain tilted toward this hiking cycle continuing for considerably longer.
“The resilient economy implies central banks will need to hike rates to ever higher levels.”
“We see the Fed’s benchmark approach 6% and the ECB’s 4% later this year.”
“Also longer US yields will continue to climb, and we target 4.5% for the 10-year Treasury yield.”
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