Already a subscriber?Shares in New York pared early gains to trade little changed at midday with traders seen preparing positions for both the end of the first quarter and before a three-day trading break for Easter.
“We believe the Fed will remain on hold at the current fed funds rate range of 5.25-5.5 per cent until the first 25bp cut in June, after which we expect 25bp cuts in September and December, followed by four more cuts in 2025 and one final cut in 2026 to a terminal rate range of 3.25-3.5 per cent.
“The continued strong performance of US equities has been partly driven by a compression of the equity risk premium there, and it now looks quite narrow. But it can narrow further. And we think that earnings expectations may keep growing if the US economy avoids a recession, as we anticipate it will.,” Reilly said, “our once-punchy end-2024 forecast of 5500 for the S&P 500 could be blown past.
The consensus view of the committee is that the Fed will begin cutting the target federal funds rate range in mid-2024, instituting three 25 basis point cuts before the end of this year.The ASX is closed on Friday and Monday for the Easter break. Trading will resume on Tuesday.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »