Traders bet on aggressive Fed rate cuts ahead of Jackson Hole symposium
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最新报道：According to a report from Bijie.com, traders are piling into a specific options bet that the Federal Reserve will cut interest rates by more than 25 basis points next month. Since the beginning of the month, there has been strong demand for positions related to the overnight secured financing rate (SOFR), which is closely linked to policy expectations. This week, traders have increased their bets again, with open interest in contracts for a 50 basis point rate cut climbing sharply. In a few days, Federal Reserve Chairman Powell will deliver a key speech at Jackson Hole. Previously, inflation data released by the United States exceeded expectations, causing some traders to lower their expectations for rate cuts. Despite a short-term pullback, traders still seem to be convinced that there will be a rate cut next month. On Tuesday, U.S. Treasuries ended a three-day sell-off, with yields across all maturities falling. "As the market prepares for Powell's speech, the biggest risk facing U.S. Treasuries is that the Fed Chairman chooses to pour cold water on the widely expected September rate cut," said Ian Lingen, head of U.S. interest rate strategy at BMO Capital Markets.
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