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Inflation Breakeven Closes In On Year-To-Date Lows Post FOMC

  • The FOMC statement/SEP helps drive the 10Y inflation breakeven more notably below the 2.25% level that had recently proved a barrier since mid-Nov, before rising on Powell’s Brookings remarks.
  • At 2.20% (-5bp), it’s at lows since early October prior to payrolls strength and the last of the US CPI beats, close to sustained lows year to date although technically still off the brief low of 2.10%.

Source: Bloomberg

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