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🇺🇸❗️ U.S. Financial Conditions Ease to Levels Not Seen Since Feb. 2022: Cable FX Macro

**As seen in Macro Walk report 12/08/23, subscribe at cablefxm.co.uk/reports


  • A gauge of U.S. monetary conditions rose to mark levels not seen since February 2022, the increase means financial indicators are loosening

  • The development adds weight to the Fed monetary policy meeting as investors bet it will start its easing cycle as soon as 2Q 2024

  • Overnight index swaps price in about 30bps of easing by the Fed May meeting while Fed Funds futures expect a total of 110bps for next year

  • The S&P 500 Index has reached a 52-week high while the CBOE VIX ticks below 13.0 as we head into the last Fed meeting of the year. These levels are interesting if we get a strong pushback from Fed Chair Powell


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