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MNI ASIA MARKETS ANALYSIS: Rate Cut Door Left Ajar

HIGHLIGHTS
  • Treasuries are mostly weaker but off lows late Tuesday, curves broadly steeper as Fed Speak buoyed the short end.
  • SF Fed President Daly said three rate cuts in 2024 is still a "reasonable baseline"
  • Projected rate cuts back to pricing in the first 25bp cut in July with a second in November.

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HIGHLIGHTS
  • Treasuries are mostly weaker but off lows late Tuesday, curves broadly steeper as Fed Speak buoyed the short end.
  • SF Fed President Daly said three rate cuts in 2024 is still a "reasonable baseline"
  • Projected rate cuts back to pricing in the first 25bp cut in July with a second in November.

Keep reading...Show less