November 14, 2022 19:04 GMT
BAX Futures Chipping Away At Thursday’s US CPI Rally
- BA yields sit up to +8.5bp for the June’23 but make little relatively little inroads after the 23bp slide with US CPI.
- Yields roughly imply an overnight policy rate peaking near 4.25% into Q1, with 60bps inversion to end-2023.
- A light docket and Fed terminal pricing only trimming 1bp on Brainard comments has seen little change through much of the session, but that could change with US PPI & Empire survey plus Canadian mfg & wholesale sales and existing home sales tomorrow.