Traders expect Fed to stop after two rate cuts next year

As the results of the U.S. presidential election were released in the evening, traders on Tuesday reduced their bets on the Federal Reserve to cut interest rates next year. Interest rate futures traders continue to bet that the Federal Reserve will cut interest rates by 25 basis points each this week and in December, but now expect the Fed to stop cutting interest rates after two 25 basis point cuts in the first half of 2025, and the target range of the federal funds rate will drop to 3.75%-4%. (Jinshi)