A summer rate cut by the Fed hangs in the balance amid persistent inflation. Rate cut bets have been scaled back from more than six to around two. But limited fallout on Wall Street; can the risk rally survive no rate cuts? Ever since the Fed signalled it was done hiking rates in November last year, the focus swiftly turned to rate cuts, with the timing and scope of policy easing consuming investors’ attention. Subsequently, markets have been abuzz with rate cut speculation all year and that theme looks set to dominate for some time yet as the timing keeps getting pushed back. The stalling of the progress to lower ... (full story)