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Equity markets kicked off the week in red on Monday with risk appetite seeming to be hurt by miscommunication from Federal Reserve. The probability of a 50-basis point rate cut by the Federal Reserve rose on Thursday after Federal Reserve Bank of New York President John Williams said the US central bank should take swift action when faced with adverse economic conditions. His comments led investors to believe that a more aggressive rate cut is underway when the Fed meets on July 30-31. However, a statement from the NY Fed stated that Williams’ speech was an academic one based on research and... Read More

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