If we were playing Jeopardy, the Daily Double Answer would be: “Not many, though the odds of rate cuts are now 50% in June and 88% in July.” The question then would have to be “What are the conclusions of today’s FOMC minutes?” Other “answers” in response to today’s risk off mood pertained to hotter CPI prints and a disappointing 10Y auction. In addition, a Bloomberg report that Iranian retaliatory attacks on Israel could be imminent did little to help optimism. It’s noteworthy that The Fed ar…
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