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
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