Fed's Dudley puts March on the table - UOB

Analysts at UOB explained that the Fedspeak overnight was overall hawkish.

Key Quotes:

"Dudley (voter) said the case for tightening is now ‘a lot more compelling’ and a rate hike is likely in ‘relatively near future’."

"Williams (nonvoter) said a rate increase is up for ‘serious consideration’ at the March meeting."

"Harker (voter) reiterated his view that the Fed could raise rates three times this year."

"All in, the odds of a 25bp rate increase in the March FOMC has increased to 52% overnight from 50% a day earlier, as measured by Fed Funds futures."