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Fed Rate Path Hit By Surprisingly Low JOLTS Openings

STIR FUTURES
  • FOMC-dated OIS trims 4bp on the back of that JOLTS openings miss for the May FOMC, back to pricing in 11-12bp from the current effective 4.83%.
  • Now fully pricing a 25bp cut with the Sept FOMC on its way to 65bps of cuts to 4.18% year end.

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