Issue 47 – 2019 Probability of Rate Increases Is Falling

The market is now pricing in a 35% probability of two rate hikes in 2019. This is down from 57% a few weeks ago. There is good chance that the December rate increase could be the last one for a while. On December 19th, 2018, I’m of the opinion that the FOMC tone will be more dovish than hawkish, which leads me to be bullish but conscious on interest rate sensitive assets like Utilities, Energy infrastructure, telcos, real estate or companies that are asset heavy.

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