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Modest Dovish Moves In Fed Pricing As Labour Market Data Loosens Further

STIR

Modest dovish moves seen in the wake of the labour market report, with the uptick in the unemployment rate, negative revisions to the headline NFP print & “low” unrounded AHE figures outweighing the firmer-than-expected NFP number.

  • FOMC-dated OIS shows ~18.5bp of cuts through the Sep meeting and ~45.5bp of easing through year end vs. ~18.0bp and ~44.5bp pre-data.
  • A reminder that there has been a growing focus on Fed suggestions that a softer-than-expected labour market could provide a trigger for rate cuts.
  • While the labour market is by no means weak in headline figure terms, a loosening trend is becoming more apparent.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
FOMC Calendar Market NewsHomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
FOMC Calendar Market NewsHomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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