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Started By
Message
re: 60% Chance of Fed Emergency Cut Meeting
Posted on 8/5/24 at 9:23 am to Hateradedrink
Posted on 8/5/24 at 9:23 am to Hateradedrink
Slackster said there is no chance of a .5 cut by Sept 
3
Posted on 8/5/24 at 9:27 am to SouthBendBob
quote:
He does work for Edward Jones
Posted on 8/5/24 at 9:28 am to SouthBendBob
Your buddy is a moron by the way
Posted on 8/5/24 at 9:31 am to UltimaParadox
quote:Good call!
Buddy in finance just texted me that they're looking at COVID level rates. Possibly even going below 2%
Let me guess he works for Edward Jones
Posted on 8/5/24 at 9:43 am to SouthBendBob
quote:
Buddy in finance just texted me that they're looking at COVID level rates. Possibly even going below 2%.
We may never see rates as low as Covid again in our lifetime.
Posted on 8/5/24 at 9:48 am to SDVTiger
I don;t see a FED emergency meeting anywhere.
Posted on 8/5/24 at 10:00 am to SouthBendBob
quote:
Buddy in finance just texted me that they're looking at COVID level rates. Possibly even going below 2%.
Not an expert on the fed...but this would be an unprecedented cut, would it not? Seems unlikely
Posted on 8/5/24 at 10:02 am to Hateradedrink
quote:
Can’t wait to refinance my house at 4.5% in a year
That's my silver lining as well. We had to move last year and went from 3% on our old house to 7% on our new house. shite hurt.
Posted on 8/5/24 at 10:03 am to scottydoesntknow
quote:
Not an expert on the fed...but this would be an unprecedented cut, would it not? Seems unlikely
That’s not how rate cuts work
Posted on 8/5/24 at 10:06 am to fallguy_1978
quote:
We may never see rates as low as Covid again in our lifetime.
Probably for the best. On the whole, humans can't control themselves when debt is too cheap.
Posted on 8/5/24 at 10:27 am to SDVTiger
quote:
Slackster said there is no chance of a .5 cut by Sept
Add me to that list too. We're not getting .5 before September.
Posted on 8/5/24 at 10:31 am to SDVTiger
quote:
Slackster said there is no chance of a .5 cut by Sept
Things can always change but I still think it will be .25%.
You said it would be 1% so we’ll see…
Posted on 8/5/24 at 10:33 am to UltimaParadox
quote:
They will hire anyone off the street, no degree required. Will give them the 2-week crash course on selling "financial instruments" to your family and co-workers that basically provide the company with the largest fees possible. They even charge new hires fees to take their training. These guys are purely salesmen, not financial advisors.
Edward Jones is the largest firm by Headcount, so it goes without saying there are plenty of shitty FAs there, but none of the above is true.
Posted on 8/5/24 at 10:35 am to elposter
quote:
Probably for the best. On the whole, humans can't control themselves when debt is too cheap.
Yep. I don't recall the mortgage rate lows during the 2008 collapse but they weren't as low as Covid. I want to say we refinanced to 4.5% or something like that back then.
Posted on 8/5/24 at 10:37 am to slackster
quote:
but none of the above is true.
Shocked to see slackster defending EJ here. I guess it was unfair to call them FA, since most are not certified when they start the cold calling
Posted on 8/5/24 at 11:25 am to Hateradedrink
quote:
Lmao there’s no way this happens but I would fricking die laughing
This is happening because the BOJ let rates rise which compressed the spread between US and Japanese rates. This increases volatility which increases the cost of hedging the carry trade.
IF the Fed panics and lowers rates here it will further compress the spread and add fuel to the carry trade unwind.
Posted on 8/5/24 at 11:26 am to slackster
quote:
Things can always change
Of course you say this now
quote:
You said it would be 1%
I said .5 to 1%
Posted on 8/5/24 at 11:32 am to SDVTiger
The losses in the US markets are now < 2%. Are people still panicking? Still demanding muh rate cuts?
Posted on 8/5/24 at 11:34 am to Hateradedrink
quote:Mortgage rates largely key off of the 10 year.
Can’t wait to refinance my house at 4.5% in a year
Posted on 8/5/24 at 11:39 am to Big Scrub TX
It’s at 3.8% today and will only go lower as rates drop.
Quick google shows todays 30y rates are 5.6%
Quick google shows todays 30y rates are 5.6%
This post was edited on 8/5/24 at 11:40 am
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