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Renewed Short-End Bid

STIR FUTURES
  • Dec'24 and Mar'25 SOFR futures are looking to test this morning's highs, SFRZ4 +.080 at 95.965 vs. 95.975 high, SFRH5 +0.090 at 96.625 vs. 96.635. Heavy volumes as markets grow comfortable with prospect of over 100bp in rate cuts by year end.
  • Projected rate hikes through year end late Thursday levels (*) : Sep'24 cumulative -36.5bp (-31.5bp), Nov'24 cumulative -75.6bp (-68.6bp), Dec'24 -115.9bp (-107.5bp).
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  • Dec'24 and Mar'25 SOFR futures are looking to test this morning's highs, SFRZ4 +.080 at 95.965 vs. 95.975 high, SFRH5 +0.090 at 96.625 vs. 96.635. Heavy volumes as markets grow comfortable with prospect of over 100bp in rate cuts by year end.
  • Projected rate hikes through year end late Thursday levels (*) : Sep'24 cumulative -36.5bp (-31.5bp), Nov'24 cumulative -75.6bp (-68.6bp), Dec'24 -115.9bp (-107.5bp).