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Pricing Of Fed Cuts Eases A Little On Data

STIR

FOMC-dated OIS pricing pulls back from knee-jerk data-induced extremes, but still prints less dovish vs. pre-release levels as the totality of the CPI & weekly jobless claims readings are digested.

  • ~140bp of cuts are priced through ’24 vs. pre-release levels of ~145bp and post data extremes of ~138bp.
  • Further forward, ~16bp of cuts are priced through the March ’24 FOMC vs. ~18bp pre-data and post-data extremes of ~15.5bp.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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