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Fed Rate Cuts Widen To 80bps During Press Conference

STIR FUTURES
  • Terminal rate trimmed through the press conference so far but little changed on prior levels at 4.95%.
  • Year-end rate expectations take another sharp step lower though, now 4.15% from ~4.35% prior and ~4.28% between the announcement and presser (using FOMC-dated OIS).

FOMC-dated OIS implied rate for Dec'23 meetingSource: Bloomberg

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