The Fed is expected to cut interest rates by only 75 basis points this year, less than expected.
This is what emerges from the trend of swaps which, over the months, indicated an overall cut of up to 100 basis points.
The revision of expectations is linked to the performance of the economy and inflation which, although slowing, continues to remain high.
The hypothesis of a cut in March is now over and the most popular hypothesis is June or July.
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