Swap markets expect the Fed to accelerate rate cuts in 2024

Odaily News Analyst Steve Goldstein said that the market's first reaction was positive - stocks rose and bonds also rose. S&P 500 futures rose from flat to up 0.5%, and the 10-year Treasury yield fell 11 basis points. Judging from the data, not only did the US CPI monthly rate in April record 0.3%, which was lower than expected, but retail sales in April also did not grow. After the CPI data was released, the swap market expected the Fed to accelerate the pace of interest rate cuts in 2024. (Jinshi)