23rd August 2023

  • Traders Dial Back Expected Fed Rate Cuts as Recession Risks Ease

Policy-sensitive futures are implying fewer rate cuts for 2024

Moves matched in options, where traders eye risk of high rates

https://blinks.bloomberg.com/news/stories/RZSV4RT0AFB4

  • TD Says Two-Year Treasury Yields at 5% Is ‘Pain Trade’ for Banks

TD Securities’ Goldberg sees losses on securities rising

Higher funding costs risk squeezing banks, strategist warns

https://blinks.bloomberg.com/news/stories/RZSQ2KT0G1KW

  • T-Bill Yields to Climb Further With Foreign Money Steering Clear

Flows show investors selling paper maturing under one year

Counterparties are opting to park cash at the Fed instead

https://blinks.bloomberg.com/news/stories/RZT2I1T0G1KW

  • Two Regional Fed Boards Sought to Hold Discount Rate in July

Atlanta, New York directors favored maintaining rate

Requests shed light on underlying division seen in Fed minutes

https://blinks.bloomberg.com/news/stories/RZSYF5T1UM0W

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