Morgan Stanley Forecasts Fed Rate Hikes in September and December

A sell-side call for two more hikes matters less as a prediction than as a signal about how parts of the market are positioning into year-end. If that path gains traction, the pressure point is duration-sensitive risk assets, where crypto and tokenized real-world assets have traded as long-duration exposure to the same rate curve. The open question is whether this stays a Morgan Stanley view or becomes a broader consensus; the Fed's own communication, not the bank's forecast, is what ultimately reprices the curve.