Overseas Chinese Banking Corporation: Market expectations for the Federal Reserve to cut interest rates further this year have cooled down

Economist Jiang Jing of Oversea-Chinese Banking Corporation pointed out that the minutes of the Federal Reserve's September meeting showed a divergence among officials on interest rate cuts, leading to a cooling of market expectations for rate cuts this year. U.S. stocks rose, with the Dow and S&P hitting new highs, while the bond market saw an increase in U.S. Treasury yields. The U.S. dollar index rose but faced resistance at the 103 level, causing non-U.S. currencies to generally weaken. San Francisco Federal Reserve Bank President Daly and Dallas Federal Reserve Bank President Logan both indicated that the Fed may gradually cut interest rates