In a few hours, the FOMC results will be announced. The market currently largely considers a 25bp rate cut as a given, and in fact, this expectation has already been priced in. The real uncertainties remaining are actually twofold— the stance of the dot plot and Powell’s statements. At this stage, making a directional move is similar to gambling on size; if you get the direction right, it's satisfying, but if wrong, you get swept away. The initiative is actually in your own hands—you can either stay completely flat and wait for things to settle, or preemptively close positions to capitalize on
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