Skip to main content

Market Overview

Scotiabank Saw Little Indication Of A September Rate Hike In Yellen's Speech


Derek Holt of Scotiabank saw no surprise in Fed Chair Janet Yellen's speech, which contained little indication of a rate hike in September.

"If Yellen was thinking of raising rates in September, then I would have expected to see firmer time-dependent language, like "soon" or "in the coming weeks" or "in the near term" etc," Holt wrote in a note.

Related Link: Citi Thinks The Fed Will Use Its September Meeting To Tee Up A December Rate Hike

According to the economist, the absence of specific timing triggers two possibilities:

  • Yellen wishes to leave that decision to each game day before the full FOMC.
  • In itself it is a signal to rule out September as too soon given the Fed likes markets to be lined up perfectly for its decisions.

Holt bets on the second interpretation and expects there will be no rate hike in September.


Related Articles (SPY)

View Comments and Join the Discussion!

Posted-In: Derek Holt ScotiabankAnalyst Color Previews Economics Federal Reserve Analyst Ratings Trading Ideas

Latest Ratings

FSRMorgan StanleyMaintains40.0
MEDDA DavidsonMaintains302.0
VICRBWS FinancialMaintains120.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at