0502 GMT - It was important to see a united Federal Reserve, which draws a line under any potential market concerns around Fed credibility, Impax Asset Management's Ross Pamphilon says in a note, after the Fed unanimously voted to raise interest rates on Wednesday. "One more hike penciled in for later this year will be well received by the market," the fixed income CIO says. Given that the U.S. Treasury market was already reflecting tighter monetary conditions, this was arguably a credibility hike with the Fed passing the test with flying colors, he says. On Wednesday, the Fed voted unanimously for a 25-basis-point rate increase.
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