July 17, 2024

Hey, it’s Ross Givens here with the Chart of the Day. As of last week, markets were pricing in two 0.25% rate cuts by the Fed by year-end. Now, they’re expecting nearly three. Since the Fed moves rates by at least 0.25%, this means the market anticipates either a 0.50% or 0.75% cut. This expectation of higher rate cuts is a good sign. But as I explain in the Insight of the Day, you don’t want to wait for the rate cuts to happen.