The money market initially appeared willing to bet that the next round of tightening could be the last of the cycle. (However) the tone of the minutes suggests the pace of prospective tightening could be less predictable.

Brian Robinson

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If you believe this pension-fund legislation will occur, and if you believe there is asset and liability mismatch, then I think you would have to say a 50-year bond could very well occur.

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The company has been forcing this train down the track for quite a while. Because of their behavior at the table we have been preparing for quite some time for our response after the 28th.

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Although geopolitics cannot be dismissed entirely from a trading perspective, the impact on the capital markets is not expected to be long term.

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