Mustafa Chowdhury on Mortgage Risks, Fed Shocks and Derivatives
Macro Hive Conversations With Bilal Hafeez
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How Would You Position in the Fed Cycle?
Yields have been versing more than we're used to, at least since the 90s and 2000s onwards. How would you position in these types of markets? My view is that Fed will be the extremely risk of ours in this direction of hiking because they lost so much reputation by starting to hike so slowly. There has been a huge amount of dent on the reputation of the Federal Reserve. If anyone's thinking that this will be one exception in decades that Fed ends the hiking cycle without breaking something, it will end ugly no matter how you look at it.
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