Wall Street Dissenters Emerge Calling for May Fed Rate Increase
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BNP Paribas, JPMorgan join Mizuho in calling for May hike
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Most banks are set on June as timing for first 2017 move
Pedestrians walk past JPMorgan Chase & Co.
Photographer: Ron Antonelli/Bloomberg
At least four of Wall Street’s biggest banks are breaking with their bulge-bracket brethren, telling clients that the Federal Reserve will probably raise interest rates before June.
BNP Paribas SA, JPMorgan Chase & Co. and Mizuho Securities USA Inc. predict a hike at May’s meeting, even though there’s no press conference scheduled and it comes days before a vote in France’s presidential election that could roil markets. Jefferies Group LLC is alone among Fed primary dealers in calling for an increase next month, while noting that it’s a close call between March and June. As for the rest of the 23 firms, most are set on June, though two point to September, a Bloomberg survey shows…
Wall Street Dissenters Emerge Calling for May Fed Rate Increase
