-- Traders in the US rates options market are embracing a nascent wager on the Federal Reserve’s interest-rate path: a whopping 3 percentage points worth of cuts in the next nine months.Julian Assange Leaves Court ‘Free Man,’ Ending 14-Year Drama
It’s an aggressive position given that market participants are pricing in about 75 basis points of easing in that period; that slipped slightly in London trading on Wednesday as Treasury yields rose. Fed officials recently forecast just 25 basis points of reductions by the end of this year and a total of 125 basis points by end-2025.
In the fed funds market, traders have been ramping up buying of August contracts that would pay out if policymakers cut at the July 31 policy meeting. Swaps linked to that meeting date, meanwhile, only price in one basis point of a reduction then. President Biden and former President Donald Trump are in the political spotlight this week as they take to the debate stage on Thursday, June 27. China Beige Book International Managing Director Shehzad Qazi joins Market Domination to discuss the two leaders' policy positions on China and what to expect from US-China relations in the next year. Qazi explains that former President Trump is interested in pursuing about 60% tariffs on China and ending Permanent Normal Trade Relations .
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