CoinVoice has learned that Pepperstone analyst Michael Brown stated that the market seems to be overreacting to the messages from Federal Reserve Chairman Powell. The seasoned research strategist mentioned in a report that the market's current expectation for a rate cut by the Fed in 2025 is only 31 basis points. The U.S. Treasury market reacted to signals of the Fed slowing its rate cuts, leading to a subsequent sell-off.
Tradeweb data shows that the two-year U.S. Treasury yield fell by about 1.5 basis points to 4.342%, while the ten-year U.S. Treasury yield rose by about 2 basis points to 4.522%. [Original link]