Traders trimmed their expectations for the Federal Reserve to aggressively ease monetary policy next year after a report on inflation that was largely in line with forecasts.
Swaps traders now see about 108 basis points of Fed rate cuts in 2024, down slightly from before the data was reported, but still expect the first reduction in May. Benchmark two-year yields, which initially fell in the wake of the release, climbed and the yield curve flattened.
Traders Trim Bets on 2024 Fed-Rate Cuts After Inflation Report - Bloomberg
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