The Fed left the door open to further rate cuts. In addition to reiterating its intent to defend profit margins, the Fed left the door open to further rate cuts. The Fed is not acting alone.
Equities remain pessimistically priced.
Treasuries remain optimistically priced. We expect this gap to narrow. Additional information available. Neither the information nor any opinion expressed constitutes an offer, or an invitation to make an offer, to buy or sell any securities or any options, futures or other derivatives related to such securities. This research report is prepared for general circulation and is circulated for general information only.