Data from the Chicago Board of Trade's interest rate futures index shows traders were pricing in a 74% chance of a 50 basis point cut in the federal funds rate at 14.00 GMT today. A 25 basis point cut is already fully priced.
Traders on Monday had priced in a 90% chance of a cut after data on new home sales in the United States showed a 5% fall in the annual rate. However, posit
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