Absent any economic news and a few days before earnings for the third quarter kick off, investors were left to further interpret last week’s data and what it means for the current rate cut regime. As things currently stand, the expectation (hope?) has been diminished from the high-water mark for cuts. With two meetings left, fed futures have gone from another jumbo cut next month and a little more in December, to less than 50 overall. This new reality (for today at least) had yields across the…
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