Money Market says that rate cut will be an urgent one (again)
Just take a look on a rate cut expectations.
In a short, the main technical graph is a difference (spread) between the nearest futures contract on FOMC interest rate (in this time Sept'24 ZQU2024) and the next one futures contract (in this time Oct'24 ZQV2024).
It's clear that spread turned to negative in 2024, and heavily negative over the past several weeks. Historical back test analysis says that in all of such cases, FOMC is to cut interest rates immediately.
The next scheduled FOMC meeting is September17-18. Will the market wait 6 more weeks?
The right answer: NO.
Rate cut will be an urgent one (unscheduled again).
In a short, the main technical graph is a difference (spread) between the nearest futures contract on FOMC interest rate (in this time Sept'24 ZQU2024) and the next one futures contract (in this time Oct'24 ZQV2024).
It's clear that spread turned to negative in 2024, and heavily negative over the past several weeks. Historical back test analysis says that in all of such cases, FOMC is to cut interest rates immediately.
The next scheduled FOMC meeting is September17-18. Will the market wait 6 more weeks?
The right answer: NO.
Rate cut will be an urgent one (unscheduled again).
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