January 23, 2025 16:54 GMT
STIR: Session Lows For Fed Rate Path On Trump Address
STIR
- The slide in WTI futures from President Trump’s WEF address and his comments re demanding that “interest rates drop immediately” has seen Fed Funds implied rates push to the day’s lows.
- A next cut slips back a little closer to June than July as of this morning, having seen little net change after jobless claims earlier.
- Cumulative cuts from 4.33% effective: 0.5bp Jan, 7bp Mar, 13.5bp May, 24bp Jun, 28bp Jul and 41bp Dec.
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