Pendulum swings back to hawkish Fed pricing

LMAX Group Research Desk LMAX Group

The big story in the second half of the week has been a run of US calendar events that have fueled a hawkish repricing of Fed rate cut bets. The combination of the hawkish Fed Minutes, stronger jobless claims data, and robust PMIs have all resulted in the market getting back to pricing closer to just one full rate cut in 2024.

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LMAX Group Research Desk

LMAX Group

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