USD over-pricing pushes BoA to #1
"We believed the market had overreacted to the Fed's comments on inflation risks, and was pricing an excessively hawkish view," said Robert Sinche, the head of strategy for global, rates, currencies and commodities at Bank of America in New York. He said this was seen through the two-year interbank swap rate, which reached 4% on June 13, its highest level for the year.
Sinche believes competitors might have been expecting to see a rate hike sooner than the Bank of America had anticipated. "We
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