Markets have almost ruled out a cut at the Fed's next policy meeting in March, versus a chance of 66% a month ago. In fact, the next question is whether the Fed can cut in May. Interestingly, although US economic data has surprised to the upside over the past few weeks, yields, especially on the front end, have not reacted as much as one might expect. Upside risk looming?
Markets starting to rule out a cut in March