The market reversed its Fed pricing course since mid-January when expectations saw 160bps of easing for 2024. The move extended into less than 100bps after the January CPI report
As of now, swaps halved rate cut bets from where we were a month ago
Back in November, a dip in inflation readings sent markets to scale Fed easing expectations while risk assets rallied. December 2024 pricing has erased this move
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