Strategist Ira Jersey said, “The overall higher than expected CPI data brought back to the table the possibility of cutting interest rates by 50 basis points in December proposed by Federal Reserve Governor Waller, so it is not surprising that the bear market has leveled off in response to the bond market. We believe the yield curve will continue to flatten until the Federal Reserve stops acting. If the Federal Reserve does cut interest rates by 50 basis points in December, we think the probability that it will raise interest rates again in March next year is extremely high.

Strategist Ira Jersey said, “The overall higher than expected CPI data brought back to the table the possibility of cutting interest rates by 50 basis points in December proposed by Federal Reserve Governor Waller, so it is not surprising that the bear market has leveled off in response to the bond market. We believe the yield curve will continue to flatten until the Federal Reserve stops acting. If the Federal Reserve does cut interest rates by 50 basis points in December, we think the probability that it will raise interest rates again in March next year is extremely high.