After the release of the U.S. employment data for December, traders significantly reduced their bets on interest rate cuts by the Federal Reserve in the first half of the year
OIS contracts linked to the Federal Reserve's meeting schedule indicate that a 25 basis point rate cut will not occur until the September policy meeting, compared to June before the data was released; the market implies a total rate cut of 28 basis points by the December policy meeting, down from 41 basis points before the data