Mohit Kumar at JEFFERIES said rates markets have been slow to price in the effects of a larger‑than‑expected oil decline after Strait of Hormuz traffic increased. JEFFERIES views a key consequence of the US‑Iran agreement as reducing the need for major central banks to tighten. The firm maintains that the Fed will not hike this year and that the Fed's next move is likely to be a cut, not a hike.

2026-06-25

Mohit Kumar at JEFFERIES said rates markets have been slow to price in the effects of a larger‑than‑expected oil decline after Strait of Hormuz traffic increased. JEFFERIES views a key consequence of the US‑Iran agreement as reducing the need for major central banks to tighten. The firm maintains that the Fed will not hike this year and that the Fed's next move is likely to be a cut, not a hike.