May 16, 2024 12:47 GMT
Fed Pricing Little Changed On Data
STIR
The firmer-than-expected import and export price metrics have a modest hawkish impact on FOMC-dated OIS, with the totality of the data released at the same time seemingly limiting the reaction.
- ~46bp of cuts are priced through year end (vs. ~48bp pre-data).
- Further forwards, ~21.5bp of cuts are seen through the September FOMC vs. ~22.5bp pre-data.
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