October 17, 2024 00:24 GMT
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.
Figure 1: RBA-Dated OIS – Today Vs. Yesterday
Source: MNI – Market News / Bloomberg
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