Morgan Stanley expects Fed rate hikes in September and December
- —Morgan Stanley expects 25 bps rate hikes in September and December
- —The market puts the probability of a hike this week at 93%
- —10-year US Treasury yield exceeded 5.02%, the highest since 2007
- —Oil trades above $100 a barrel, adding to inflation risks
Why it matters: A longer Fed tightening cycle will keep rates high and increase pressure on risk assets, including Bitcoin and the crypto market.
Source: Invezz