BofA’s Cabana Says US Running Above Breakeven Employment

Mark Cabana, co-head of global rates research at BofA Securities, said the US is running above breakeven employment. According to Bloomberg, Cabana and Jamie Patton, co-head of global rates at TCW, discussed the Federal Reserve and Citigroup’s forecast that interest-rate cuts will begin in October, a month later than previously, after the central bank left rates unchanged and released revised forecasts Wednesday.