Gaze Into The Data Long Enough… By Benjamin Picton, Senior Market Strategist at Rabobank Friday saw equities continue their recovery from steep selloffs early last week and the preceding Friday. The S&P500 and the NASDAQ both rose by around half a percentage point and the Treasury curve flattened. 10-year yields sank by 5bps, and 2-year yields rose marginally as markets continued to price out hysterical calls for large emergency rate cuts. Nevertheless, the futures curve still has 38bps of cuts to the Fed Funds rate priced in for the September meeting, so starting an easing cycle with a supersized cut… — Continue at ZeroHedge News : Read More
