The Federal Reserve is a lock to deliver a quarter-point cut to its benchmark interest rate Wednesday, going by action in the rates swaps market. Equity derivatives traders are still bracing for a wild ride.
The implied move in the US stock market Wednesday after the central bank’s decision is just shy of 1% in either direction, according to data from Strategas Group. A swing of that magnitude would mark the biggest move in the benchmark after a Fed decision since March.
