Low impact

Traders are fully pricing in two Fed rate hikes by the end of January.

FinancialJuice10/14, 08:05 PM

Figures as quoted by FinancialJuice

Market impact

Which way this story pushes each asset. An inference from the story, not a measured move.

USD
Would push up
DaysMedium confidence
Pricing for two more Fed hikes raises expected US yields, supporting the dollar
US10Y
Would push up
DaysMedium confidence
Hike pricing lifts expected short-term rates, pulling yields higher
Gold
Would push down
DaysMedium confidence
Higher expected rates raise the opportunity cost of holding non-yielding gold
Nasdaq
Would push down
DaysMedium confidence
Higher expected rates raise discount rates on growth stock cash flows