MACRO
Bond Traders Downgrade 2023 Fed Rate-Cut Odds to a Coin Toss
Bond traders no longer view the odds of a Federal Reserve rate cut this year as better-than-even.
As recently as mid-January it was an article of faith that the Fed’s eight rate increases in the past year had sown the seeds of a recession that would require the central bank to reverse course. Since then, persistently strong employment data and sticky ...