Traders feel like a rate cut is coming! So it started to rise?
After Powell's testimony was released, traders expect the Fed's first rate cut in September to be slightly higher than 70%
July 9 news, according to Jinshi, Powell's remarks indicate that the FOMC is unlikely to cut interest rates when it meets at the end of this month. U.S. Treasury yields fluctuated but rose during the day, and the S&P 500 index maintained its gains after Powell's testimony was released. Traders expect the Fed's first rate cut in September to be slightly higher than 70%. They expect two 25 basis point rate cuts in 2024.
