If a final 25 bps cut in 2019 isn’t the default position of core Committee members, then a campaign to dissuade investors from this assumption will begin in earnest.
The last crisis started in money markets. Add that to the ongoing WTF-happened questions about the Saudi bombings, and there seems to be a curious sense of false calm in markets.
"We have never seen a supply disruption and price response like this in the oil market. Political-risk premiums are now back on the oil-market agenda."