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The Compound and Friends

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The Market Pricing in Cuts

The market is pricing in a 0% chance that rates will be where they are now, 5 to 5 and a quarter at the end of the year. And I think right now, the odds are on 75 base points of cuts. It could be a while before those cuts show up. But again, the market is very clear on this. You're seeing across the board, like the market does not believe the Fed is going to hold here.

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