Morgan Stanley joins Goldman Sachs in 11th-hour switch to forecasting a Fed hike

Two major Wall Street banks flipped their Fed expectations late Monday, pivoting from forecasting an unchanged rate decision to calling for a hike. This 11th-hour reversal signals a material shift in how the Street is reading incoming data and Fed messaging ahead of the decision, likely forcing repositioning in rates, FX, and equity derivatives markets that had priced in a hold.

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