The market expects the Fed to enter a wait-and-see period after cutting interest rates in December

Odaily Planet Daily Report: Analyst Joseph said that the market generally expects the Federal Reserve to cut interest rates in December, but the Federal Reserve will then skip rate cuts in January, March, and May, and eventually cut rates again in June or July. Given the upcoming economic data, we believe this view is not unrealistic. This is a significant change compared to the forecast of the rate cut magnitude at each meeting in 2025 three months ago. In addition, US bond yields and the US dollar have fallen, as US employment data has not been as surprising as many had expected. These data may still reflect the impact of hurricanes, the Boeing strike, and the US election, making it more difficult to understand how these factors will drive the Fed's interest rate decision in December. Inflation data will be released next week. The 10-year Treasury yield is 4.171%, and the 2-year Treasury yield is 4.114%. The US dollar index has reversed its trend, falling 0.1% intraday. (Gold Ten)