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Robust US Econ Makes Large-Scale Fed Rate Cuts Unlikely, Says JPM
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The robust growth prospects for the US economy are making it hard for the Fed to implement large-scale rate cuts, JPMorgan said in its report. Accordingly, the broker recommended selling two-year US Treasury bonds as a tactical trade. According to the report, the hotter-than-expected non-farm payroll data released this week has forced traders to abandon predictions of a rate cut in June. They are now expecting the Fed to cut rates by 25 bps in July and again by the end of the year. AAStocks Financial News |
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