https://www.ft.com/content/e7513369-7537-4ce9-b2ce-5c787cb01b32
The market is hyperfocused on macro prints in order to develop a view on how the Fed will move rates in the next 12-24 months. Most recent investor sentiment predicts that the Fed will cut three times in 2024, which is in-line with what the Fed has guided to, down from predicting a full percentage point cut across the year. Market participants utilize employment and inflation measures and how they have trended in the recent past to support predictions they make which are constantly evolving depending on where these measures shake out to be.