·*Although Powell indicated rate cuts as the next move, Sep’24 is not a
done deal till the evaluation of Aug’24 job and inflation data*
·*On Friday (Jackson Hole), Powell didn’t say anything new, which the
market does not know already*
·*The market is already almost discounted for the next Fed rate cut
cycle of -275 bps over the next 11 QTRs either from Dec’24 or Sep’24*
·*Fed rate cuts cycle often coincided with some types of global
financial crisis; at around 5700-5800, the TTM PE of SPX-500 is over 30
bubble zone*
*
*
*https://www.iforex.com/news/dow-and-gold-surged-powell-put-after-roller-coaster-202408260755
*
*
*
*
*
--
Regards,
Ashish Ghosh
Research Analyst/Signal Provider/Content Writer
(iFOREX and Misc.)
Global and Indian market
https://twitter.com/ashishjpg
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