3 Things to Know:

• Rates climb to 3-month highs. Strong economic data, Fed updates and election pressures drove swap rates ~65bps higher from October 1st to November 7th, with rates now ~75bps above YTD lows in September. 
  
  
• Red sweep reshapes outlook. The GOP's election victory could mean more economic growth and higher inflation. Futures markets now expect the Fed to cut rates by only 75bps through 2025.  

• Fed cuts rates and addresses election. The Fed delivered a smaller 25bp cut in November. Powell said the election won't affect Fed policy in the near-term, but acknowledged a possibility of longer-term impacts. 

Explore More:

• Middle East Conflict (-5 bps)

• ADP Employment Report (+5 bps)
• Service Sector Index (+7 bps)
• September Payrolls Data (+24 bps)
• September FOMC Minutes (+7 bps)
• Retail Sales (+5 bps)
• Fed Speakers (+11 bps)
• Presidential Election Odds (+5 bps)
• Economic Data Overview (+8 bps)
• October Labor Data Summary (+6 bps)
• Trump Wins Presidency (+15 bps)
• FOMC Meeting (-9 bps)