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2) Investors expect the Fed to cut interest rates. The FedWatch s tool of the CME Group indicates that investors expect around 79.6% chance that the Fed will cut interest rate by 0.25% at this round of Monetary Policy Meeting.
2) Investors expect the Fed to cut interest rates. The FedWatch s tool of the CME Group indicates that investors expect around 79.6% chance that the Fed will cut interest rate by 0.25% at this round of Monetary Policy Meeting.
Nevertheless, Maybank cut 2021E earnings by 16% to reflect downward revision on crude assumptions from USD55/bbl to USD50/bbl as demand recovery has been weaker than expected and the second wave of Covid19 injects uncertainty.
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