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Fed Pricing Back Up Near Yesterday AM Levels

STIR FUTURES
  • Pricing a 51bp hike for the May meeting, 106bp for June, 192bp for Sep and 238bp to year-end.
  • Light data docket but the MBA mortgage data could be of note after the 30Y contract rate last week touched the highest since Apr-2010 at 5.20%.
  • The Senate confirmed Brainard as Vice Chair yesterday (52-43) as expected but the vote for the three other nominees could be delayed with Covid absences preventing Democrats from proceeding with Cook’s vote.

Source: Bloomberg

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