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Deutsche Bank strategist: The market has anticipated at least one 50 basis point rate cut by the Federal Reserve this year.
Odaily Planet Daily News, US Federal Reserve Chairman Powell said in a speech at Jackson Hole last Friday that "now is the time to cut interest rates", and the market subsequently warmed to expectations that the Fed will cut interest rates by as much as 50 basis points at its September meeting. Deutsche Bank strategists pointed out that the number of applications for unemployment benefits has actually remained stable in the past few weeks or even decreased. Strategists believe that the US economy may not be in trouble and are shorting 10-year US Treasuries. Their target yield for the 10-year US Treasury is 4.1%, with a stop-loss point of 3.65%. They said that the Fed's dovish attitude has been fully priced in, as the market has expected the Fed to cut interest rates by at least 50 basis points at one of the remaining three meetings this year, eventually lowering the Interest Rate from the current range of 5.25%-5.5% all the way down to 3%. (Jinshi)
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