Traders have halved the size of the expected interest rate hike to 25 basis points following troubles in the banking sector, with analysts saying a pause was unlikely as it would indicate the turmoil had rattled the Fed.
"The Fed has a hard task as fears around the financial system intensify. While the central bank is likely to continue its hiking cycle with a 0.25% move, we think the guidance for future meetings will be considerably more open," said Gabriele Foà, co-portfolio manager at Algebris Investments.
it looks like the wave is very big. It has not yet been written whether an increase in interest rates can still do anything. But one thing is certain, many banks can no longer be saved. That's how I see it
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