Asks about market reaction to expected 25bps Fed rate cut and Powell's commentary.
Sam
Cooper Howard
The actual rate cut isn't as important as the dispersion of FOMC views. Expects 25bps cut but anticipates dissents in both directions and dispersion in the dot plot.
Asks about market impact of FOMC dispersion and dissents.
Sam
Cooper Howard
Expects continued steepening of yield curve - short end to fall as Fed cuts rates, long end to stay elevated around 4%.
Asks about reasons behind Treasury sell-off with 10-year at 4.18%.
Sam
Cooper Howard
Current sell-off reflects shifting Fed expectations and concerns about next Fed chair potentially cutting rates for political reasons.
Asks what to watch for regarding yield curve steepening into 2026.
Sam
Cooper Howard
Labor market data is key - JOLTS report tomorrow, unemployment claims, nonfarm payrolls will indicate if labor market is softening.