Markets continue adjust to the not new higher for longer rate regime that is currently in place via the Fed. Since the last meeting, the chorus of Fed speakers have mentioned their data dependency (which remains economy positive), while their long-term plans of cutting rates this year remains on track. Powell had the podium today and maintained the same wait and see approach, and therefore no change. CME futures continue to see a 58% chance of a cut in June, but that seemingly has been moving w…
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