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Fed Hike Expectations Get A RBA Boost

STIR FUTURES
  • Implied hikes early saw a boost from the RBA surprisingly hiking 25bps to 0.35% (cons 15bps).
  • They remain off yesterday’s highs for near-term meetings (52bp May, 109bp June) but are back close to where they peaked for later in the year (202bp Sep, 253bp Dec).
  • Data: finalised durable goods/factory orders and JOLTS for March both at 1000ET. Job openings are again seen dipping marginally on the month to 11.20M (after peaking at 11.45M in Dec) but the sharper decline in unemployment would see the number of unemployed to openings fall to a new low of 0.5.

Source: Bloomberg

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