Cheney Reaction By Benjamin Picton, senior macro strategist at Rabobank Cheney Reaction Friday’s US payrolls report was supposed to settle the question of whether the Fed would be cutting by 25bps next week, or 50. On Thursday of last week the OIS futures had 33.8bps of cuts priced in for the September meeting. Today, it has 33.2bps of cuts priced in. Clearly the signal wasn’t as clear as many would have been hoping. The reaction in market pricing might come as a surprise to many who took the time to read through the numbers. Employment growth in August of 142,000… — Continue at ZeroHedge News : Read More
