BNY Mellon Ultra Short Income ETF

BKUI

Market cap $229M

For years, central banks around the globe have tended to move in the same general direction when it comes to trimming rates. However, that is increasingly not becoming the case.

On September 17, the Federal Reserve cut interest rates by 25 basis points, ending months of debate and market speculation over when the central bank would trim rates down. This marked the first time the Fed lowered rates since December 2024.

Wall Street has been struggling to find a footing at the start of 2024. The uncertainty has made investors jittery, raising demand for cash-like ETFs.