Traders Bet on More Easing as Fed Opts for Half-Point Rate Cut

Traders Bet on More Easing as Fed Opts for Half-Point Rate Cut

From bnnbloomberg.ca

Traders are ramping up their bets on the pace of Federal Reserve’s future easing after officials reduced their key interest rate by half a point, sending short-maturity Treasuries yields lower. The yield on monetary policy-sensitive two-year Treasuries dropped as much as seven basis points to 3.53% after the Fed’s projections showed a narrow majority favored lowering rates by at least an additional half-point over this year’s two remaining meetings. Traders are pricing in about 123 basis points worth of easing by the end of 2024, an increase from about 112 prior to the announcement. Fed Chair Jerome Powell and ... (full story)

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