“Following decision from the Bank of Canada and European Central Bank, the Fed enters their blackout period before the September 21st meeting with a clear message: the job market is strong right now and the focus remains on bringing inflation back to target. The market is expecting another 75-basis point move ahead of this week’s CPI. And the overriding message from the Fed, counter to what we’ve heard for years, is higher rates. And higher for longer with a terminal rate now in and around 4%.”

Listen to Monday Minutes with Gregory Faranello, CFA–Head of U.S. Rates at AmeriVet Securities