- Maybe aiming at a rate hike by the middle of next year, the Fed is "seriously considering" dropping from its policy statement its assurance that ZIRP will remain for a "considerable time," writes Jon Hilsenrath.
- The FOMC meets on December 16-17.
- That language has been taken by many in the market to mean at least six months.
- “It’s clearer that we’re closer to getting rid of that than we were a few months ago,” said Vice Chairman Stanley Fischer to the WSJ last week, and FRBNY boss Bill Dudley has notably stopped using the "considerable time" phrase in recent speeches, instead saying the Fed should be "patient" before hiking rates.
- Previously: Money flows back into fixed income
- ETFs: SHY, BIL, STPP, VGSH, SHV, FLAT, SCHO, DTUS, SST, DTUL, TUZ