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NewsBreak: Chance of October Fed Cut Tops 90%

Published 10/03/2019, 12:17 PM
Updated 10/03/2019, 12:20 PM
© Reuters.

Investing.com - The implied chance of the Federal Reserve cutting rates this month jumped above 90% Thursday following another weak economic indicator. The ISM’s services measure hit a three-year low for September, which followed a 10-year low in its manufacturing index earlier this week. Chances of a rate cut were below 50% at the end of last week.

  • The fed funds futures are now pricing in a 91.9% chance that the Fed cuts its benchmark rate to the range of 1.5% to 2% from 1.75% from 2%, according Investing.com’s Fed Rate Monitor Tool. Expectations of a cut topped 75% in the previous session.

  • The PMI fell more than expectations of analysts for a drop to 55, according to forecasts compiled by Investing.com.

  • The 2-Year Treasury yield, a closely watched measure of short-term rate expectations, sank to 1.382% to 1.484%.

Latest comments

so the market throws a fit on bad news. odds of more cheap money goes way up market skyrocketed to green. to bad all this cheap money and deficits is being billed to people yet even born now. disgraceful
This is gonna be a chain reaction system in coming months... weaker the market reports and bigger the outflow of funds from markets to safe heavens... we all are heading towards a recession now. Unless major economies come together to negotiate and reach an universal solution, the recession and slow down in market and also infrastructural sectors is unavoidable.
good to see people admitting what's happening world wide - experts denie until last man standing lol
No recession until US elections are over . Buy puts for Feb / March 2021
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