Traders of federal funds futures saw a growing chance on Thursday that Fed policy makers will cut interest rates at their July 25-26 meeting. They are pricing in a 50% likelihood of the Federal Reserve cutting borrowing costs by at least a quarter of a percentage point in two months’ time, up from 42% on Wednesday. Such a move would bring the fed funds rate down to a range of 4.75% to 5%, after accounting for a pause by the Fed in June. Regional-banking concerns were back in focus again after PacWest Bancorp said it lost 9.5% of deposits during the week that ended May 5. Treasury yields were broadly lower in morning…

Source link

Share with your friends!

Products You May Like

Leave a comment

Your email address will not be published. Required fields are marked *

Get the latest stocks updates
straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.