Expectations for Rate Cuts, Meta's Record-Breaking Bond Sale | Real Yield 10/31/2025

分组1 - The Federal Reserve is experiencing internal divisions, leading to differing views on monetary policy and the potential for rate cuts in December [2][8][17] - Jay Powell, the Fed Chair, indicated that a December rate cut is not guaranteed, reflecting uncertainty in the labor market and inflation levels [5][6][11] - The labor market is showing signs of cooling, but inflation remains elevated at around 3%, complicating the Fed's decision-making process [3][6][12] 分组2 - Meta's recent bond sale of $30 billion received a record $125 billion in orders, indicating strong demand despite concerns over its spending pace [25][26] - The high yield market has slowed down significantly, with only $18 billion priced this month, the lowest since April, amidst emerging credit concerns [27][28] - Credit investors are cautious about the potential risks associated with large capital expenditures, particularly in the context of economic uncertainty [36][41]