💥 The Fed's interest rate swap market is fully priced in for three rate cuts before the end of the year
Bittui News, according to Jinshi, U.S. Treasuries rose, with yields hovering at their lowest level since February, and investors believe that economic data supports the Fed's three rate cuts this year. The 10-year yield fell below 4% for the first time since February, and the previously released manufacturing data reinforced the market's view. The increase in initial jobless claims last week indicated a slowdown in the labor market. Interest rate swap traders expect a 100% chance of a total rate cut of 75 basis points this year, which means that each of the next three interest rate meetings will cut rates by 25 basis points.
