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Fed pricing increases following JOLTs data

STIR FUTURES

Fed hike expectations to their day highs on today's JOLTs data.

  • Markets now price in 69bp for the September meeting (back to flat on the day after moving below 67bp earlier today).
  • 117bp priced cumulatively for November (up from 114bp pre-JOLTs) - the highest since the July FOMC meeting.
  • 143bp priced by year-end, up 6bp since the release and exceeding the most priced in July, within 2 ticks of the high of the year seen in June.

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