diff --git a/Lib/test/test_capi/test_opt.py b/Lib/test/test_capi/test_opt.py
index 16288a447e20fe..ea72f9fdc00915 100644
--- a/Lib/test/test_capi/test_opt.py
+++ b/Lib/test/test_capi/test_opt.py
@@ -3114,6 +3114,40 @@ def testfunc(n):
         self.assertNotIn("_POP_TOP_INT", uops)
         self.assertIn("_POP_TOP_NOP", uops)
 
+    def test_strength_reduce_constant_load_fast(self):
+        # If we detect a _LOAD_FAST is actually loading a constant,
+        # reduce that to a _LOAD_CONST_INLINE_BORROW which saves
+        # the read from locals.
+        def testfunc(n):
+            for _ in range(n):
+                x = 0
+                y = x
+
+        _, ex = self._run_with_optimizer(testfunc, TIER2_THRESHOLD)
+        self.assertIsNotNone(ex)
+        uops = get_opnames(ex)
+
+        self.assertIn("_LOAD_CONST_INLINE_BORROW", uops)
+        self.assertNotIn("_LOAD_FAST_2", uops)
+
+    def test_strength_reduce_constant_load_fast_borrow(self):
+        # If we detect a _LOAD_FAST_BORROW is actually loading a constant,
+        # reduce that to a _LOAD_CONST_INLINE_BORROW which saves
+        # the read from locals.
+        def testfunc(n):
+            class A: pass
+            a = A()
+            for _ in range(n):
+                x = 0
+                a.x = x
+
+        _, ex = self._run_with_optimizer(testfunc, TIER2_THRESHOLD)
+        self.assertIsNotNone(ex)
+        uops = get_opnames(ex)
+
+        self.assertIn("_LOAD_CONST_INLINE_BORROW", uops)
+        self.assertNotIn("_LOAD_FAST_BORROW_4", uops)
+
     def test_143026(self):
         # https://github.com/python/cpython/issues/143026
 
diff --git a/Python/optimizer_bytecodes.c b/Python/optimizer_bytecodes.c
index b40b597643dc94..de1774e7a57e24 100644
--- a/Python/optimizer_bytecodes.c
+++ b/Python/optimizer_bytecodes.c
@@ -87,10 +87,23 @@ dummy_func(void) {
 
     op(_LOAD_FAST, (-- value)) {
         value = GETLOCAL(oparg);
+        PyObject *const_val = sym_get_const(ctx, value);
+        if (const_val != NULL) {
+            // It's safe to always borrow here, for
+            // the same reason as _LOAD_CONST..
+            value = PyJitRef_Borrow(value);
+            REPLACE_OP(this_instr, _LOAD_CONST_INLINE_BORROW, 0, (uintptr_t)const_val);
+        }
     }
 
     op(_LOAD_FAST_BORROW, (-- value)) {
         value = PyJitRef_Borrow(GETLOCAL(oparg));
+        PyObject *const_val = sym_get_const(ctx, value);
+        if (const_val != NULL) {
+            // It's safe to always borrow here, because
+            // _LOAD_FAST_BORROW guarantees it.
+            REPLACE_OP(this_instr, _LOAD_CONST_INLINE_BORROW, 0, (uintptr_t)const_val);
+        }
     }
 
     op(_LOAD_FAST_AND_CLEAR, (-- value)) {
@@ -110,7 +123,7 @@ dummy_func(void) {
     }
 
     op(_STORE_FAST, (value --)) {
-        GETLOCAL(oparg) = value;
+        GETLOCAL(oparg) = PyJitRef_StripReferenceInfo(value);
     }
 
     op(_STORE_SUBSCR_LIST_INT, (value, list_st, sub_st -- ls, ss)) {
diff --git a/Python/optimizer_cases.c.h b/Python/optimizer_cases.c.h
index a17a5688847e07..15d0b56ebddf93 100644
--- a/Python/optimizer_cases.c.h
+++ b/Python/optimizer_cases.c.h
@@ -43,6 +43,11 @@
         case _LOAD_FAST: {
             JitOptRef value;
             value = GETLOCAL(oparg);
+            PyObject *const_val = sym_get_const(ctx, value);
+            if (const_val != NULL) {
+                value = PyJitRef_Borrow(value);
+                REPLACE_OP(this_instr, _LOAD_CONST_INLINE_BORROW, 0, (uintptr_t)const_val);
+            }
             CHECK_STACK_BOUNDS(1);
             stack_pointer[0] = value;
             stack_pointer += 1;
@@ -53,6 +58,10 @@
         case _LOAD_FAST_BORROW: {
             JitOptRef value;
             value = PyJitRef_Borrow(GETLOCAL(oparg));
+            PyObject *const_val = sym_get_const(ctx, value);
+            if (const_val != NULL) {
+                REPLACE_OP(this_instr, _LOAD_CONST_INLINE_BORROW, 0, (uintptr_t)const_val);
+            }
             CHECK_STACK_BOUNDS(1);
             stack_pointer[0] = value;
             stack_pointer += 1;
@@ -102,7 +111,7 @@
         case _STORE_FAST: {
             JitOptRef value;
             value = stack_pointer[-1];
-            GETLOCAL(oparg) = value;
+            GETLOCAL(oparg) = PyJitRef_StripReferenceInfo(value);
             CHECK_STACK_BOUNDS(-1);
             stack_pointer += -1;
             ASSERT_WITHIN_STACK_BOUNDS(__FILE__, __LINE__);