According to Odaily, Sam Stovall, Chief Investment Strategist at CFRA Research, has indicated that an unexpected dip in inflation has led to a rise in futures prices and a significant drop in the yield of 10-year US Treasury bonds. This situation is likely to benefit the Federal Reserve. At this point, the dot plot may have been approved by vote, making it more likely that there will be two rate cuts in 2024 instead of one. However, Stovall still believes that by mid-2026, there will be a 25 basis point cut every quarter. The inflation data allows investors to view the possibility of a rate drop at the end of the year more optimistically. As a result, risk assets have significantly increased, and the growth sector is expected to perform strongly within the first hour of the market opening.
Unexpected Inflation Drop Could Lead to Double Rate Cut in 2024, Says Investment Strategist
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