Fed Chairman Jerome Powell's upcoming midterm presentation to the US Congress on March 6-7, coupled with the release of February non-farm payrolls data on March 8, will provide greater clarity regarding the Fed's future actions. #Fed #interestrates #bondtraders #ratecuts #JeromePowell #nonfarmpayrolls

Bond traders are aligning their rate cut expectations with projections from Fed members, as they lowered their anticipated rate cuts for the year to 75 basis points on Tuesday evening. The December swap contract associated with Fed decisions implies a rate of 4.58 percent, reflecting a decrease of 75 basis points from the effective federal funds rate of 5.33 percent. #Fed #interestrates #bondtraders #ratecuts #JeromePowell #nonfarmpayrolls