The analysts maintained their projections of 25-basis-point increases each in December and February, which would bring their terminal interest rate forecast to 4%-4.25%. The Nomura revision follows forecast revisions by Goldman Sachs Group Inc. earlier this week and matches both the size of those changes and the latest calls.
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However, the broader picture remains bearish, with the lower-end support positioned at 34,700. A breach below this support level could intensify the downward momentum in