Fed’s Descent Can Start With a Step or Jump: Authers & Abbey

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Today’s Points:

• Rates are coming down globally, and now the Fed will join in.
• Developed markets have moved ahead of emerging counterparts as they descend from high rates.
• A 50 basis-point cut is seen as a 50-50 shot, which suggests problems with the Fed’s messaging.
• For stocks, if big rate cuts are really necessary, then don’t expect a rally on their back.
• AND: Haitians are great.

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