Our new $ rates scenario
The start of this year saw a reversal of the trend on dis inflation, a reassessment of rate expectations by the market and finally a change in tone from Fed speakers, including J.Powell . We changed accordingly our $ rates scenario for the next 18 months and now expect our 2-year OIS $ to end 2024 at 4.15%. The 10-year UST should decrease from 4.6% to 4.45% in September and 4.30% in December. In this scenario, the 2-10y segment of the UST curve should become flat during Q4 this year.