Angus McDiarmid, Head of European Interest Rate Derivatives at Tradeweb, says: “According to Tradeweb data, the swaps market expects the FOMC to leave rates unchanged at tomorrow’s committee meeting. It appears the swaps market has backtracked on previous predictions, now giving just a 10% chance of a 25bps rate cut in June and less than 35bps of cuts in total priced until the end of this year.”
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