🏦🔺Hawkish Bets Increased On JOLTS Data: Cable FX Macro

• We saw a spike of hawkish bets after the August JOLTS data released, the team at Bloomberg Economics reported the surprise was worth 4.2 standard deviations. The August quits rate remained at 2.3%, lowest since early 2021

• There are around 14bps of additional tightening priced in by end of the year

• Rate cut bets were trimmed today, the July OIS tenor had seen the Fed delivering the first 25bps cut, the move is now fully priced in for September