The End Of The Beginning By Michael Every of Rabobank The end of the beginning “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” – Churchill Last week saw pure market panic. Rates markets are now pricing in 50bps cuts from the Fed at multiple 2024 meetings, or even intra-meeting: it’s not higher for longer, but when we see zero rates and QE again, apparently. July payrolls were weak (114K vs. 175K expected) with a surprise rise in unemployment to 4.3% triggering the so-called Sahm… — Continue at ZeroHedge News : Read More
