The BoE and the Fed both have argued that it is too early to talk about cutting rates but who needs them anyway? The market has done it for them over the past 24 hours with the U.S. 10’s and 30’s and the UK 10’s having a 20-25bp cut enforced by market participants. It started with the Treasury size announcement Monday, continued with the Quarterly Treasury report on Wednesday and was given the all clear to carry on post a Fed that provided no real hawkish angle (at least not one that the market…
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