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Fed to Cut US Rates in June, Risks Skewed Towards Later Move
The U.S. Federal Reserve will cut the federal funds rate in June, according to a slim majority of economists polled by Reuters, who also said the greater risk was the first rate cut would come later than forecast rather than earlier. Reuters surveys since September have consistently predicted the first rate cut would come around the middle of this year. Markets, however, have gone from March to May, and now are priced for June as the most likely time for the first rate reduction. Although stock markets have surged to record highs, the U.S. 10-year Treasury yield has jumped nearly 50 basis points to 4.28% this month ... (full story)
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