Guy LeBas

Guy LeBas has been quoted 3 times. The one recent article where Guy LeBas has been quoted is Dovish Wall Street now sees just one rate hike this year: Fed survey. Most recently, Guy LeBas was quoted as having said, “The discussion over Brexit has masked the fact that long-term inflation breakevens have been trending lower since April. If inflation doesn't rise, neither will rates. These deteriorating expectations are a hint that markets have little long-term faith in any policy increases, and it's hard to imagine overnight rates will reach more than 1 percent in this cycle, unless inflation expectations change drastically.”.

Guy LeBas quotes

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For whatever reason, today you could basically see the tumbleweeds rolling through many markets. It's quiet out there.

The discussion over Brexit has masked the fact that long-term inflation breakevens have been trending lower since April. If inflation doesn't rise, neither will rates. These deteriorating expectations are a hint that markets have little long-term faith in any policy increases, and it's hard to imagine overnight rates will reach more than 1 percent in this cycle, unless inflation expectations change drastically.

I think it's a bit of a hangover from Yellen's speech yesterday afternoon, which of course appeared to cap the number of rate hikes for 2016 at two.

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