- Three major U.S. indexes lower; Dow down more than 1%
- Real estate is biggest S&P sector loser, energy up most
- STOXX closes down 1%
- Crude, dollar, Bitcoin up; gold down
- U.S. 10-yr Treasury yield ~1.77%
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MARCH IS STILL A LONG WAY AWAY FOR FED (1330 EST/1830 GMT)
General market consensus is that the Federal Reserve will begin its tightening cycle as soon as March, with a strong possibility of four hikes on deck in 2022.
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But two months is a very long time, why Lee Ferridge, head of macro strategy for North America at State Street Global Markets, thinks the market could be getting ahead of itself.
“There are a lot of moving parts before we get (to March), to be so confident of a move in March two months ahead is a little overpriced,”…