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STIR: RBA Dated OIS Slightly Softer Ahead Of Employment Report

STIR

RBA-dated OIS pricing is 1-2bps softer for 2025 meetings. A cumulative 8bps of easing is priced by year-end.

  • September labour market data print shortly and will be monitored closely as they have remained strong in 2024 and consistently surprised to the upside.
  • Bloomberg consensus is forecasting a 25k rise in new jobs after 47.5k in August with the unemployment and participation rates projected to be steady at 4.2% and 67.1% respectively.

 

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RBA-dated OIS pricing is 1-2bps softer for 2025 meetings. A cumulative 8bps of easing is priced by year-end.

  • September labour market data print shortly and will be monitored closely as they have remained strong in 2024 and consistently surprised to the upside.
  • Bloomberg consensus is forecasting a 25k rise in new jobs after 47.5k in August with the unemployment and participation rates projected to be steady at 4.2% and 67.1% respectively.

 

Keep reading...Show less