Federal Reserve Preview: Goldman Sachs Says Rate Hikes Finished, Hints At Possible 'Insurance Cuts' In 2024
Portfolio Pulse from Piero Cingari
Goldman Sachs predicts no rate hikes in the upcoming Federal Open Market Committee meeting, with a possible shift towards 'insurance cuts' in 2024. The current interest rate of 5.25%-5.5% is expected to remain unchanged, with a 98% probability according to CME Group’s FedWatch tool. The 10-year Treasury note, tracked through the US Treasury 10 Year Note ETF (NYSE:UTEN), has surged to levels unseen since 2007.
October 30, 2023 | 4:07 pm
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NEUTRAL IMPACT
The US Treasury 10 Year Note ETF (UTEN) could be impacted by the Federal Reserve's interest rate decisions. The ETF, which tracks the 10-year Treasury note, has seen a surge to levels not seen since 2007.
The Federal Reserve's decisions on interest rates directly impact the yield on Treasury notes, which in turn affects the performance of ETFs like UTEN that track these notes. The recent surge in the 10-year Treasury note could indicate increased investor interest in this asset, potentially affecting UTEN's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70