November Fed Rate Cut In Jeopardy: 12 Reasons Veteran Trader Expects A Hold As Strong Data, Rising Oil Prices Shuffle The Deck
Portfolio Pulse from Piero Cingari
Stronger-than-expected U.S. economic data and rising oil prices are reshaping expectations for the Federal Reserve's November meeting. Traders are now considering a smaller rate cut or a hold, as inflationary pressures rise. The U.S. Treasury 10-Year Note ETF (UTEN) dropped 0.4% amid these developments.
October 07, 2024 | 9:37 pm
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NEGATIVE IMPACT
The U.S. Treasury 10-Year Note ETF (UTEN) dropped 0.4% as market expectations shifted towards a potential hold in Fed rate cuts due to strong economic data and rising oil prices.
The drop in UTEN reflects market adjustments to the possibility of the Fed holding rates steady, influenced by strong economic data and rising oil prices. This suggests a less favorable environment for bond prices, impacting UTEN negatively.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80