The markets have got it wrong (again) on rate cuts
Bond traders are fully priced for some relief by April 2025 thanks to a couple of surprising data points. But it’s always the coldest just before sunrise.
I spent 20 years in the bond market and learnt that this is a very dangerous statement. But the last two years have repeatedly demonstrated that interest rate markets just don’t “get it”.
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Warren Hogan is managing director of EQ Economics.
