November 22, 2022 17:53 GMT
Rates Look Through Rogers, Potential Drivers Ahead
- BAX futures see a mild rally, more linked to US rates rather than specific reaction to Sr Dep Gov Rogers’ remarks/moderated Q&A which have seen limited immediate reaction.
- Front yields sit 0-1.5bp lower out to the Sep'23 with larger rallies of up to 8bp into 2024.
- Potentially larger drivers from Fed’s George and Bullard later, before a solid US docket tomorrow (includes durable goods & PMI) and BoC’s Macklem late for any potential steer from the Bank with OIS leaning slightly more towards a 25bp vs 50bp hike for Dec 7.