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US jobs data

US: Jobless Claims Fall Below 300,000 For The First Time During The Pandemic

J.J. Fernández Figares (Link Securities) | It is difficult to explain the reason for the recent rally in bonds, which has led to a significant fall in yields. Particularly when most of the macro figures published in the last few days have confirmed that “high inflation” is here to stay, at least for much longer than initially estimated by central banks. It is quite another matter if the latter, under…

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Fed Signals Faster Tapering In 2023 But Under-Delivers On Next Year’s Dot Plot

Simon Harvey (Monex Europe) | While every sell-side analyst didn’t expect the FOMC dot plot to signal a rate hike in 2022, markets had other thoughts. While two members shifted their expectations to move the median dot plot to signal rates at 0.3% in 2022, this under-delivered in the eyes of rates markets. The price of eurodollar 2022 futures rose, in turn lowering the expected interest rate, while risk was…