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Powell tries to temper Wall Street belief in rapid interest rate cuts but no one is listening

No (2023) surprises Fed surprises on 2024

At today’s meeting the Federal Reserve’s Open Market Committee left the central bank’s policy interest rate at 5.25% to 5.50%. In its Dot Plot forecast the Fed signaled one more interest rate hike for 2023. In its forecast the bank said that rates...
The “other” big interest rate news tomorrow: How big will the Treasury’s bond auctions be?

Look for an opportunity to buy Treasuries

Look for an opportunity to buy Treasuries at a short-term peak in yields. With a debt filing extension in effect and default off the table, the U.S. Treasury can now turn to the task of rebuilding its cash buffer. That means selling lots of Treasury bills, notes, and...