Jefferies: The Fed is not expected to cut interest rates by 50 basis points in September, nor by 100 basis points or more this year

Jefferies economist Mohit Kumar said in a report that the recent sharp re-pricing of the Fed's rate cuts in the money market (the rate cuts this year are as high as 125 basis points, which fell back on Tuesday) is an overreaction and does not reflect the fundamentals. Jefferies expects the Fed to neither cut interest rates by 50 basis points in September nor cut interest rates by 100 basis points or more this year. "Despite aggressive measures, we believe that fundamentals have not changed much." Jefferies expects the pricing of the money market to be cut. (Jinshi)