Yellen Fails to Convince This $100 Billion Investor on Rate Move
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Mitsubishi UFJ’s Shimomura says December move a close call
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Blanchflower sees Fed on hold, commenting before Yellen speech
Federal Reserve Chair Janet Yellen said she’s ready to raise interest rates. The man who oversees $100 billion at Mitsubishi UFJ Kokusai Asset Management is not convinced.
“She wishes to hike rates this year but I think there are a lot of problems, especially liquidity and the economic situation in emerging markets,” said Hideo Shimomura, Mitsubishi UFJ’s chief fund investor in Tokyo. “It’s a close call. They may not even hike for the foreseeable future.”
Futures contracts show the odds the central bank will raise interest rates at its Oct. 27-28 meeting are 18 percent, based on data compiled by Bloomberg. The figure is 49 percent for the Dec. 15-16 session. The calculation is based on the assumption the benchmark will average 0.375 percent after the first increase, versus the current target range of zero to 0.25 percent…
Yellen Fails to Convince This $100 Billion Investor on Rate Move
