The Federal Reserve lowered interest rates by 25 basis points to 4.00–4.25%, marking its first cut in years. Bitcoin rose slightly above $116,000 on the news, according to Bitcoin Magazine Pro.
The Big Flip thesis has been gaining traction in the financial world and describes the market’s misplaced belief in the path of inflation and policy rates.
The market is nearly unanimous in expecting a 0.25% rate hike during February's FOMC meeting, yet many expect a “pause” shortly thereafter. We beg to differ.
U.S. equities rallied following the FOMC’s 75 bps hike in interest rates, only to crash as Fed Chair Powell hinted at higher-than-expected terminal rates.
Central banks are trying to keep yields from exploding higher while they hike rates to fight inflation. Who will step in to buy bonds in current conditions?
The United Nations released a report demanding central banks change course and OPEC decided to cut their production quotas by 2 million barrels per day.
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