Trader: ‘The World Has Changed And You Don’t Know It’

One thing you almost undoubtedly missed overnight was the Norges Bank. Simply put, they were hawkish - or whatever counts as "hawkish" in the current environment. While they of course left rates unchanged on Thursday, they lifted their rate path - if modestly. "The changes in the outlook and the balance of risks imply a somewhat earlier increase in the key policy rate than projected in the June MPR" the bank noted, adding that "the key policy rate is forecast to be 0.5 percent over the coming