Structural Analysis: Monetary Expectations and Asset Class Dispersion Date: Monday, December 1, 2025 I. Monetary Policy and Global Interbank Dynamics The Federal Reserve's observed stance remains within the established range, with the Fed Funds Rate Effective  registering 3.88%  as of the reporting date, denoting a minor +2 basis point (bps) appreciation  over the prior month [5]. This stability contrasts with the persistent forward pricing of an imminent easing cycle across

Tuesday, November 18, 2025 I. Global Liquidity Structure and The Price of Credit The Federal Reserve's primary intervention mechanism, the Fed Funds Rate Effective , registers at 3.88% , reflecting a 23 basis point (bps) decline over the one-month period [cite: 5, 13]. Market expectations, derived from the futures complex, project persistent monetary loosening through the subsequent year, with the Implied Policy Rate  falling to 3.26%  by the July 29, 2026, FOMC meeting [cite