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MNI: US Employment Insight, Oct'24: 50bp Cut Odds Evaporate

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Some notable analyst views/view changes:

  • BofA, CIBC and JPMorgan step back from calls for a 50bp cut in November.
  • SEB still look for a 50bp cut in Nov but acknowledge a lower probability.
  • Citi look for a 25bp cut in Nov before a 50bp cut in Dec on a resumption of softer trends.
  • RBC see very low probability of a November skip but it should keep pricing in a 20-30bp range.
  • Nordea are one of the more hawkish, questioning whether the Fed needs to cut at all.
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Some notable analyst views/view changes:

  • BofA, CIBC and JPMorgan step back from calls for a 50bp cut in November.
  • SEB still look for a 50bp cut in Nov but acknowledge a lower probability.
  • Citi look for a 25bp cut in Nov before a 50bp cut in Dec on a resumption of softer trends.
  • RBC see very low probability of a November skip but it should keep pricing in a 20-30bp range.
  • Nordea are one of the more hawkish, questioning whether the Fed needs to cut at all.