The likelihood of a 50 basis point cut next week from the Fed priced into swaps rose slightly after the Wall Street Journal reported that policymakers were considering whether to cut rates by 25 basis points or 50 basis points. The September OIS contract fell about 3 basis points to an intraday low of around 5.04%, corresponding to a September meeting rate cut of about 28 basis points, towards the midpoint of Wednesday's range; the corresponding rate cut by Wednesday's close was 26 basis points. Bets on rate cuts for the year remain around 103 basis points, flat during the day.