Below is a chart and brief excerpt from today's Early Look written by Macro analyst Ryan Ricci.
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The two-year yield remains near the low end of the range. From a rate hike expectation front, that means the market is expecting one rate hike this year and three rate cuts thereafter by June 2024. This is the opposite of expectations around the world. Expectations for June 2024 in the Eurozone are no rate cuts, UK no rate cuts, Switzerland no rate cuts, and New Zealand no rate cuts. |
