The market is projecting a 50bps Fed rate cut now!

The market has changed this week compared to last week from 50-50% to 67-33%.

However, we still stand by our projection of a 25bps rate cut because the Fed's dual mandates are to control inflation and ensure employment.  Both these 2 factors are not in a dire strait to warrant a 50bps cut unless the US is fudging the inflation and employment data.