硅谷银行：2025年下半年全球基金银行业展望报告：影响私募市场的趋势（英文版）

Talk of tariffs outpaced that of interest rates and inflation in the firsthalf of the year, This underscores how interest rate concerns wereon the back bumer during Hi, but this could reverse as the Fed's ratecuts come back into the spotlight

Part of this shift has been driven by borrowing costs, with the federalfunds rate (FFR) poised to continue decreasing. Following theFOMC's 25 bps rate cut at their September meeting, the marketcontinued to price about 2 cuts by year-end and