Bloomberg’s Cameron Crise flagged up this discussion earlier today,Since I am trying to understand how Overnight index swaps work and their meaning I figured I would write it up.

Below is the 30 year OIS which is at 3 year lows and trending lower ,if I Understand correctly this is what the market expects the Average Fed Funds rate to be over next 30 years.I don’t know yet if this is predictive or reactive A bit more research is needed. Either way both of these metrics are well below the fed funds rate of 2.125 and market saying lower rates ahead

10 year OIS swap at 1.08%

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