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Fed Rate Path Holding Yesterday's Push Higher

STIR FUTURES
  • Fed Funds implied rates broadly consolidate yesterday’s further climb following a large beat for an equally volatile Empire State manufacturing index.
  • 22bp hike for May (unch) and cumulative 28bp hike for Jun (unch), fully reversed with Nov at -11bps from current levels (-2bps) and 29bps with Dec (-2bps).
  • Fedspeak: Bostic (’24) is interviewed on CNBC at 1100ET ahead of Gov Bowman on digital currencies at 1300ET. Bostic last week saw the Fed hitting the mark and holding after one more hike. Bowman seems less likely to discuss mon pol but last spoke on monitoring market developments Mar 14 and before than on mon pol in mid-Feb.

Source: Bloomberg


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