Will the Fed Finally Start Down the Mountain?: Abbey & Authers

To get John Authers’ newsletter delivered directly to your inbox, sign up here.

Today’s Points

• Developed-market central banks are cutting rates; they’re no longer behind EM.
• Global rate expectations have shifted accordingly — there’s more optimism for cuts now.
• In the US, hawks and doves are changing places ahead of the FOMC.
• In Japan, there’s real uncertainty around the BOJ — they might just hike a few hours before the FOMC.
• AND: Happy birthday to Geddy Lee of Rush — here’s a long song to listen to.

The Fed’s Uneasy Wait

Exactly a year after its last rate hike, a good run ...