The market has been experiencing a state of uncertainty as the Federal Funds Futures contract for February indicates a possible cut or no cut in interest rates by January. This confusion has led to a fluctuating price range, with the current price at 96.365. Our short position stands at 96.40, leaving us unsure of which direction the market will take.

Will there be a cut in interest rates by January, or will it remain unchanged? The market seems to be equally divided on this matter, with the Equal chances of Cut and No Cut for February Fed Funds Futures contract at 98.38. It’s a wait-and-see situation as we navigate these uncertain times.