Number of 25bps policy rate moves priced for 2024

Global yields 

and global spreads

Dec-2024

Jun-2024

Global Agg. Treasury Yield (lhs)

Global High Yield OAS (rhs)

"Goldilocks"

Higher for longer being priced in

Dovish pivot

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Number of 25bps policy rate moves priced for 2024

Global yields 

"Goldilocks"

Dovish pivot

Higher for longer being priced in

Global High Yield OAS (rhs)

Global Agg. Treasury Yield (lhs)

Jun-2024

Dec-2024