Making Sense

Hi, I couldn't write the post the last 2 days since I was in Kolkata celebrating Durga Puja. I was positively surprised at the traffic management and the good road conditions. I remember when I last visited some 15 years back for Durga Puja,  the roads were heavily congested but this time the vehicular movement was smooth. The pandals are beautiful and illustrate the bedrock of creative talent coming out of Bengal. When you move across the narrow alleys, you know the love for Puchkas, Meat Rolls, Biryani and Tea. Interestingly, this time I observed the love for Vests and Lycra as the streets are full of billboards from Lux Cozi, Rupa and VIP. It was a wonderful trip and worth a visit !! Coming back to markets now, The implied Fed Fund Pricing* for peak terminal rates is 5.43% (+10bps) and Dec 24 pricing is at 4.63% (-80bps). The terminal rate pricing has ranged between 5.49% - 5.37% over the last three months and the Dec 2024 pricing has exhibited sharp volatility with lowest pric...