X @Wu Blockchain

Delphi Digital said on X that the Fed delivered another 25 bps cut in December, taking the fed funds rate to ~3.50–3.75%. The forward curve prices at least three more cuts through 2026 (low-3% by year-end). With QT ending on Dec. 1, a TGA drawdown, and the RRP fully depleted, this is the first net-positive liquidity backdrop since early 2022—turning policy in 2026 from a headwind to a mild tailwind. https://t.co/2FTusuwCuB ...