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bulls pin their hopes on Federal Reserve (Fed) rate cuts to drive a sustained decline in bond yields and the dollar, signals from the bond market tell a different story.
The Fed is expected to cut rates by 25 basis points to the 3.5%-3.75% range on Dec. 10, continuing the so-called easing cycle that began in September last year. Several investment banks, including Goldman Sachs, expects rates to drop to 3% next year.