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Fed Hike Expectations Firm Through The Day

STIR FUTURES
  • FOMC-dated Fed Funds futures sit at recent highs of 47bps for May and just off highs for June and July at 92bps and 131bps respectively. 215bps to year-end, same as prior to Brainard on Tue.
  • Ahead: Bostic (2024) & Evans (2023) speak together on inclusive employment, no prepared text. Possibly limited new info but just in case, most recent comments are...
  • Bostic: repeated on Mar 30 that he favors 6 hikes in 2022 and warned that if it moves too quickly it could hurt the economy.
  • Evans: repeated on Apr 1 that he see 7 hikes in 2022 and doesn’t have a 50bp hike in his forecast but will “see how it plays out”.

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