@winstono
the divergence between the market's 87%+ odds of a 25bp Fed rate cut in December and November's ISM Manufacturing PMI of 48.2—indicating the fastest contraction in four months—signals potential volatility. This soft data could temper rate-cut expectations if it highlights broader economic weakness, prompting reassessments. Investors may shift from risk assets, heightening swings in equities, bonds, and FX amid policy uncertainty.
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