Oil steps back, the Fed steps in: EM inflation moves to the background amid lower oil prices and soft food inflation. The stronger-for-longer US cycle suggests EM rates spreads to the US could widen in the belly as the USD premium narrows. Rates should anchor around neutral, but there is

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Oil steps back, the Fed steps in: EM inflation moves to the background amid lower oil prices and soft food inflation. The stronger-for-longer US cycle suggests EM rates spreads to the US could widen in the belly as the USD premium narrows. Rates should anchor around neutral, but there is

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