Markets are not giving up the Move-ember as the month is quickly coming to an end. Both the S&P 500 and Nasdaq are sitting on their best monthly performances since July 2022, with only one day left to change that. Investors have attached themselves to the cuts are coming thesis since the perceived dovish tilt at the last FOMC meeting, and now construe every Fed speaker comment that the first rate cut will occur next spring. CME data now projects May 2024 as the pivot point, and that Fed Funds w…
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