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Analysis: A 70% expectation of interest rate cuts may still not allow Wall Street to see a "Christmas rally" again.
Odaily News The Federal Reserve Board of Governors member Waller's hawkish remarks on interest rate cuts have pushed market expectations for a rate cut next month to about 70%. However, amid high AI valuations, surging VIX index, and the risks of seasonal failure, Wall Street is diverging from historical experience and collectively turning cautious, making a “Christmas rally” difficult to replicate. (Jin10)