UBS says the changes from the FOMC/Dot plot/Powell have been surprisingly dovish.
Nevertheless, the three fee cuts forecast for 2024 will not be actually an easing of coverage. As a consequence of excessive inflation actual rates of interest might be stored roughly steady, at the same time as US inflation falls. UBS additionally not that quantitative coverage continues to tighten, and regulatory coverage may constrain exercise.
Affordable factors.
For markets , although, its all about decrease charges than in any other case and therefore the outsize reactions in ‘threat’ belongings.
