Markets have held up well to a dramatic reduction in rate-cut estimates
Markets have held up well to a dramatic reduction in rate-cut estimates: Tom Essaye, Sevens Report Editor, Quoted in MarketWatch on MSN
This is the big question markets have for Fed’s Jerome Powell, BlackRock says
“Since the start of the year, markets have held up well to a dramatic reduction in rate-cut estimates,” Tom Essaye, founder and president of Sevens Report Research, said in a note on Tuesday. “Remember, in January the market expected six rate cuts starting in March.”
Stocks and bonds haven’t been hit harder by the recent shift in those expectations because “the market still expects the next move from the Fed to be a cut,” Essaye said. A reiteration of that message by Powell on Wednesday could help stop the S&P 500’s recent slide, he said.
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