From Tuesday to Wednesday, the Federal Open Market Committee (FOMC) is scheduled to hold a meeting on economic projections. This will likely bring another Fed funds rate cut by 25 bps, according to Fed funds futures at nearly 90% probability. In turn, lower short-term interest rates should ease refinancing conditions for businesses. That is, if rate cuts do not end up signaling economic weakness. In that case, long-term borrowing costs could remain elevated, often tied to either Treasury yields or corporate ...