The Fed put worked ...Middle East

Yesterday, Warton Professor and frequent market commentary Jeremy Siegel was on CNBC calling for an emergency 75 basis point Fed cut followed by another 75 bps in September "at minimum" as the market worries peaked.Today, that sounds like an embarrassing overreaction to a stock market move with the Atlanta Fed Q3 GDP tracker sitting at +2.9% and yesterday's ISM services above 50.To be sure, it's not a good look to be seen panicking but he wasn't the only one. Fed funds futures traders we putting real money on bets on an emergency cut and a whole host of dovish bets.It's all looking like an overreaction that the market is correcting on its own.I have a different take: The very existence of th

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Last updated : 06 August 2024 clock 09:57 PM

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The Fed put worked ...Middle East

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