UBS: Fed's Rate Cut Path Unchanged, Urgency Diminished
ChainCatcher News, according to Jinse Finance, UBS Global Wealth Management stated in a report that although the January non-farm payrolls report was stronger than expected, evidence of declining U.S. inflation in the coming months should allow the Federal Reserve to maintain its plan for further rate cuts. Chief Investment Officer Mark Haefele said that the institution's baseline scenario remains a 25 basis point rate cut each in June and September, which will create a favorable environment for stocks, bonds, and gold. Data from the London Stock Exchange shows that after the release of the non-farm data, the money market lowered its expectation for the total Fed rate cuts for the year from about 60 basis points to about 50 basis points, and postponed the pricing of the next rate cut from June to July.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Yen breaches the 160 level again! Japanese finance minister vows to "join forces" with the US Treasury to address unilateral volatility
After the yen fell below the critical 160 level, the Japanese finance minister stated that Japan would closely cooperate with the US Treasury Department to address unilateral volatility, reigniting speculation of joint intervention.
For the first time in nearly 30 years! 500 million euros equivalent deployed as funds, New York Fed report confirms joint Japan-US intervention in yen exchange rate
The New York Federal Reserve released a report on Thursday confirming earlier market news that the US Treasury used approximately 500 million USD equivalent in euros, which it holds, to support the Japanese yen in a coordinated intervention with Japan on July 31.
Crypto prices
More
