News & Insights

Interest rates took an unexpected turn a week after the FOMC cut rates for the first time this year. Since the conclusion of the meeting, the 2-year rate has jumped 7 bps, the 5-year is up 12 bps and the 10-year is up 10 bps.

Equities reached new record highs throughout the week, coinciding with increased global attention in the FOMC meeting.

All three equity indices closed at record highs on Thursday, driven by market optimism regarding the high probability of a 25-basis point rate cut following the September 17 FOMC meeting.