May 31, 2024 14:05 GMT
Dovish Fed Repricing Extends On Chicago PMI
STIR
FOMC-dated OIS sees a modest extension of the PCE-inspired dovish repricing following the very soft round of MNI Chicago PMI data (although the prices paid metric remains elevated, likely limitng the move). That leaves ~37.5bp of cuts showing through year end and ~16bp of easing priced through the Sep FOMC.
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