RE: Explanation Please1 Oct 2019 21:49
We think the Fed will provide further 'insurance' interest rate cuts to try to limit the slowdown in overall growth," wrote James Knightley, chief international economist at ING.
Market expectations for a quarter percentage point rate cut later this month climbed to 65%, compared with less than 40% on Monday.
That’s why bank stocks sunk quickly this afternoon (the credit rating didn’t help, the broker rating was known earlier had little to no affect imo) and of course a PI heavy bank share already nervous will get hammered even more.