Deutsche Bank: Fed should raise interest rates as soon as possible to avoid a repeat of the 1994 bond market crash

US stock market center: Exclusive offer full industry sector stocks, premarket after-hours, ETF, warrants night network real-time quotes, nightlife network Finance YORK, June 8 news, the US Labor Department on Friday announced new non-farm jobs in May The number of 280,000, far higher than the 22.Market forecast value and the previous value of 70,000 22.30000。At the same time, average hourly earnings are accelerating rise。Deutsche Bank (Deutsche Bank) said the Fed should be clear that the intention to raise interest rates this year and throughout 2016, otherwise all asset classes are likely to face greater volatility。  Deutsche Bank economist pointed out that the timing of the first rate hike perfection does not exist, allowing interest rates to rise quickly if the Fed 1%, then you can avoid interest rate rises later than 2%。  If interest rates rise too fast in a short time, it could lead to the bond market crash。Recently, the German government bonds in developed countries, led by long-term government bonds fell sharply, investors believe that long-term low interest rates and easing has led investors to bet on one direction, resulting in lack of market liquidity is an important reason。  Deutsche Bank said in a report: "Now the foreign exchange market confusion and anxiety bond market in 1984 and 1994 similar。"In 1984, the sharp appreciation of the dollar impact on US exports of capital goods, resulting in sharp drop in US energy and agriculture profits。While the overall economy is still healthy, but painful Midwest and Texas, the US dollar eventually to intervene, and signed the "Plaza Agreement" in September 1985。Now, how much the appreciation of the dollar but also without serious damage to US growth is still unknown, but if, as in 1984, as the impact is more concentrated, may face a political rally。  Mid-1994, the Federal Reserve conducted a series of successive rate hikes, causing bond market crash。Generally believed that the Fed would not raise interest rates for a long time after the end of every year from 1990 to 1991 recession, and when the time comes to raise interest rates, but also greatly exceeded market expectations, causing investors to panic, rush to open arbitrage positions the results bond market entered a bear market in a period of moderate inflation。  "What is our view that?If policy makers believe that the second half of this year to raise interest rates too risky, then they should think about it, if unit labor costs accelerated, next year had to quickly raise interest rates risks arising from potentially much greater, "Deutsche Bank in a report in the case said。(Shofu compilation)