The expectation going into today’s Jackson Hole Symposium was as high as the Tetons. With 100bps of cuts being priced by the markets (over the 3 remaining meetings), Powell did not disappoint as he started his press conference with “The time has come for policy to adjust”. An immediate spike in equites and treasuries (and a drop in the Dollar) ensued, as the markets cheered the expected result. While the question of how much in September remains, the CME data shows a 34% chance of a 50bps cut (…
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.