Are Municipal Bonds Ideal Second-Half Fixed Income Plays?

The Fed left interest rates unchanged at its first FOMC meeting under Chairman Kevin Warsh, and Fed funds futures are pricing almost zero probability of a July rate cut. The decision and rate-cut expectations point to continued policy stability near term, with implications for Treasury yields, risk assets, and rate-sensitive sectors.

Analysis

The Fed left interest rates unchanged at its first FOMC meeting under Chairman Kevin Warsh, and Fed funds futures are pricing almost zero probability of a July rate cut. The decision and rate-cut expectations point to continued policy stability near term, with implications for Treasury yields, risk assets, and rate-sensitive sectors.