PANews reported on September 19 that according to Jinshi, JPMorgan Chase correctly predicted that the Federal Reserve would cut interest rates by 50 basis points this week. The bank said that another large rate cut depends on whether the US labor market weakens. The bank's chief US economist Michael Feroli insisted that the Federal Reserve will cut interest rates by 50 basis points again in November, but he said his view depends on the results of the upcoming employment report. JPMorgan Chase's interest rate strategists expect U.S. Treasuries to remain range-bound until the September employment report provides direction. "The U.S. Treasury yield curve is likely to become more narrowly volatile in the coming weeks," wrote analyst Jay Barry. "Until we see the September employment report, money markets are unlikely to reflect a faster pace of rate cuts or lower final interest rates."
