Markets are underestimating Fed cuts: UBS
UBS analysts warn that markets might be misjudging the extent of future interest rate cuts by the Federal Reserve.
"Since the beginning of the year, investor expectations on Fed cuts have been a major driver of market sentiment," the note states. However, UBS emphasizes that"the destination of rates matters more for the investment outlook, not the beginning of the journey.""Whether the first Fed cut happens in September or December likely won't make any material difference," UBS argues.
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