May 01, 2024 10:23 GMT
Less Than 30bps Of Fed Cuts Priced For 2024
STIR
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- Fed Funds implied rates hold yesterday’s post-ECI increase after a further push higher late in the session.
- Ahead of today’s heavy docket with labor data and ISM mfg before the FOMC decision, a first cut in December is getting close to only just being fully priced at 28bps.
- Cumulative cuts from 5.33% effective: 0bp for today's meeting, 2bp Jun, 5.5bp Jul, 13bp Sep, 19bp Nov and 28bp Dec.
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