The next big debate is how low US interest rates will go ...Middle East

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Here is a handy chart from Apollo showing what's priced in for US and Eurozone overnight rates.The dotted lines show the market-derived forecasts while the solid lines shows some valuable historical context.We know rates in the US are going to be cut in September and will continue to be lowered from there. The pace is uncertain but what really matters for the market is the destination.Apollo argues that the floor for rates is now higher, likely even higher than the 3% priced in. That's a commonly-held belief and it's based on the idea that we're in some kind of new higher-inflation era due to deglobalization or other structural factors.I disagree. I think the same structural factors that led

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