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VGSH - How The Bond Market Learned To Love The Fed
Vanguard Short-Term Government Bond ETF
2024-05-04 02:00:00 ET
Summary
The market had already priced itself out of the multiple rate cut fantasy with which it started the year when the FOMC sat down this week to deliberate for two days on an outcome it had telegraphed well in advance.
Fed funds futures markets are pricing in two rate cuts, with the likely timing now pushed back to the second half of the year.
The Fed’s base case view continues to be that growth will maintain a steady pace while inflation gradually gets back to the 2 percent target.