JUST IN: Futures are now showing a ~45% chance that rate cuts begin as soon as March 2024.

There's also a growing (but small) chance that rate cuts begin in January 2024, at 4%.

Prior to the most recent CPI inflation data, the base case showed rate cuts beginning in June 2024.… pic.twitter.com/zB53Ak9eVM

— The Kobeissi Letter (@KobeissiLetter) November 29, 2023