The Federal Reserve is almost certain to cut rates at the end of July — but don’t expect a melt-up, usually marked by a powerful rally followed by a...
The Federal Reserve is almost certain to cut rates at the end of July — but don’t expect a melt-up in equities, usually marked by a powerful rally followed by a substantial selloff, says Mark Haefele, global chief investment officer at UBS Global Wealth Management.
At the conclusion of the Federal Open Market Committee’s two-day gathering July 31, Wall Street is betting a quarter-of-a-percentage-point rate reduction of the federal funds rates which currently stand at a range of 2.25%-2.50% at the conclusion of the Federal Open Market Committee’s two-day gathering July 31.
To be sure, the analyst isn’t predicting a melt down in stocks either, but says that the tenuous state of the market lends itself to maintaining exposures to stocks, but with the caveat that second-half returns will be more modest than the market has thus far seen.
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