The U.S. bond market on June 29, moved to price in an anticipated move by the Federal Reserve to cut the interest rate by a half-point in early 2023, after traders predicted that a likely recession would eventually force the central banks to slow down its aggressive tightening policies. The Fed and other central banks around the world have been attempting of late to control record inflation with interest rate hikes.
Policymakers at the Fed increased the benchmark interest rate by 75 basis points on June 15 to a range of 1.5-1.75 percent, with Fed Chairman Jerome Powell hinting at another hike in July….