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40bp Intraday Rally In 2Y Tsy Yield to 4% As Fed Pricing Slides

STIR FUTURES
  • 2Y Tsy yields have now seen a 40bp intraday rally for -24ps on the day at 4.00% as Fed pricing continues to fall, instigated by European banks sliding, led by Credit Suisse.
  • Pricing 15bp hike for next week’s FOMC, ~20bp for the peak in May or slightly less from 41bps less than three hours ago and building back to 87bps of cuts to 3.93% year-end.

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