FOMC Jan statement was a reality call to the market that it shouldn’t be too enthusiastic about an early rate cut (the market is pricing now a 65% probability that US target rate will not have a rate cut in March). This is an approximately increase of 15% from a day before Jan’s 2024 FOMC meeting.
The stock indexes were ramping full force ahead expecting a rate cut as soon as March 2024.
The current disappointment can be seen from the shar...