Two large orders in the US interest rate futures market "betting" on a rate cut in July, focusing on Powell's testimony at the Senate meeting on July 9th
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Two large bets have emerged in the US interest rate futures market, far from the market's expectations for the first rate cut by the Federal Reserve. This indicates that the market's expectations for a rate cut in July are increasing, but a rate cut is still a tenuous outcome. Federal Reserve Chairman Powell will testify at a Senate meeting on July 9, which could be one of the catalysts for a shift in market interest rate expectations. The contracts for these two bets will expire on August 30, capturing the policy announcement on July 31. Currently, the number of open contracts for August options has reached a historical high
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