Fed Meeting Preview: These 2 Wall Street Analysts Still Expect 3 Cuts In 2024, But Bond Market Reflects Growing Uncertainty
Portfolio Pulse from Piero Cingari
Ahead of the FOMC meeting, Wall Street analysts from Goldman Sachs and Bank of America anticipate three rate cuts in 2024, adjusting earlier forecasts due to recent inflation data. Goldman Sachs expects cuts in June, September, and December, citing slightly higher inflation paths. Bank of America predicts a revision towards stronger growth and firmer inflation but sees rate cuts as a close call. Treasury yields are rising, impacting fixed-income assets like the iShares 20+ Year Treasury Bond ETF (TLT), which has fallen nearly 4% from its March peak.

March 18, 2024 | 3:35 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
The iShares 20+ Year Treasury Bond ETF (TLT) has declined almost 4% from its March peak due to rising Treasury yields ahead of the FOMC meeting.
The anticipation of the FOMC meeting and the adjustment of rate cut expectations due to inflation concerns have led to rising Treasury yields. This increase in yields has negatively impacted fixed-income assets, including TLT, as evidenced by its nearly 4% decline from the March peak. The direct mention of TLT's performance in relation to Treasury yields and the FOMC meeting outcomes makes this news highly relevant and important for investors in TLT, with a high confidence level in the analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90