After a benign June inflation report, markets are wagering the Federal Reserve will lay the groundwork for a September rate cut at its policy meeting on Wednesday. Futures are fully priced for a quarter-point easing and even imply a 12% chance of 50 basis points, and have 68 basis points of easing priced in by Christmas.
RBI calls off T-Bill auction on higher-yield demand
The Reserve Bank of India (RBI) withdrew its ₹12,000 crore treasury bill auction for 182-day and 364-day maturities, reportedly due to high yield bids. This