Source: LPL Research, Bloomberg 08/20/19
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Three Cuts or More
Implied Probabilities for Fed Funds Rate Changes
First Fed Rate Cut
Ned Davis Research Large Cap Growth/Value Equity Series Ratio
A rate cut is a 25 basis point (0.25%) reduction from the current upper bound fed funds rate of 2.25%.
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Market implied rate hike expectations are calculated based on the pricing of various fed funds futures contracts.
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