UBS Paints a Very Hawkish Picture Pre-election

Assume No Rate Cut Coming?

Pretty insightful Fed-watching by Simon Penn of UBS

The Fed Still Isn’t Confident On Inflation

There were eight Fed speakers over the course of Tuesday and all of them gave the same basic message: inflation may have slowed, but they are not yet confident policy has beaten it back to a path to 2%.

It was a pretty hawkish message, all told - Musalem espec…