Markets are misreading Fed officials' comments, and the central bank could still raise rates, analyst warns

• The markets have been misinterpreting recent Fedspeak, a Barclays analyst said.
• Markets "have read far too much into recent Fedspeak that implied that these higher rates might have done some of the heavy lifting."
• If a strong US economy is driving interest rates higher, the Fed may have to hike rates again.

There's been a slew of commentary from Fed officials in the past few weeks suggesting that higher bond yields have tightened financial conditions, making more rate hikes unnecessary.

But Meghan Graper, global co-head of debt capital markets at Barclays, isn't convinced.