HSBC says hawkish risk around the FOMC, but buy the dip when it comes

June 12, 2024 12:18 am

HSBC on the Federal Open Market Committee (FOMC) meeting today, Wednesday, 12 June 2024

  • Analysts at the bank say there is some hawkish risk around this meeting
  • Expect any subsequent rates volatility is unlikely to “spike to levels from last year, let alone from 2022”
  • And thus any weakness in risk assets “to be both short-lived and shallow”
  • Providng a pretty good tacticalentry point back into risk assets

It’s a busy US Wednesday ahead. Ahead of the Federal Open Market Committee (FOMC) statement and Federal Reserve Chair Powell’s press conference due on Wednesday, 12 June 2024

  • at 1400 and 1430 US Eastern time respectively (1800 and 1830 GMT)

are US CPI data for May 2024.

  • due at 0830 US Eastern time (1230 GMT)

Jerome Powell

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