The dichotomy between the commentary and the data is quite remarkable. of course, nobody has clear eyes on the future, so I guess it makes sense, but I cannot recall both sides of the story being so adamant about their side before. usually there was some hedging
5 cuts next year, the first in early Q2.... the market has priced a lot more than insurance cuts despite everything the Fed has said. It’s rare to see the mkt fighting the Fed rhetoric with such belief ... one side is very wrong ....
The dichotomy between the commentary and the data is quite remarkable. of course, nobody has clear eyes on the future, so I guess it makes sense, but I cannot recall both sides of the story being so adamant about their side before. usually there was some hedging
5 cuts next year, the first in early Q2.... the market has priced a lot more than insurance cuts despite everything the Fed has said. It’s rare to see the mkt fighting the Fed rhetoric with such belief ... one side is very wrong ....
it's so true, how long did we hear, don't fight the Fed? a decade and now it is all they do.