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Fed Priced For 200bp Of Hikes Over Four Meetings

STIR FUTURES
  • Fed Funds implied hikes are off post-ECI/PCE highs but are still up sharply on the day from June onwards.
  • Showing 52bps for Wed, 111bps for June, now above 200bps for the four meetings with Sep and 251bps to year-end.
  • Main data still to come before the FOMC decision: ISM & final PMI for Apr (May 2 mfg, May 4 serv/comp) plus factory orders & JOLTS for Mar (May 3) and ADP for Apr (May 4).

Source: Bloomberg

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