2024-07-15 10:15:00 ET
Summary
- Signs that the US economy is slowing is another factor that supports a dovish pivot for monetary policy.
- The policy-sensitive US 2-year Treasury yield is also pricing in a softer Fed funds target rate.
- A crucial economic report this week will be widely read for fresh clues on the outlook for monetary policy: tomorrow’s US retail sales report for June.
We’ve been here before. Markets price in high odds that the Federal Reserve will soon start cutting interest rates, only to learn otherwise. Is this time different? That’s the bet… again....
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Markets Confident That Rate Cuts Will Start In September