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🏦🇺🇸Market Adds Fed Rate Cut Wagers: Cable FX Macro

Writer's picture: Rosbel DuránRosbel Durán
  • SOFR calendar spreads show the market is pricing around 86bps of easing this year, in other words, traders now see three rate cuts on the table from September to December

  • The chart below shows calendar spreads were pricing a little less of two rate cuts for this year, just one month ago

  • In overnight index swaps, there is 100% chance of a 25bps rate cut being delivered every single Fed meeting into the end of the year. This compares to last week when only 62bps of easing were priced in



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