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Fed Rate Path Holds Yesterday’s GDP Climb

STIR FUTURES
  • Fed Funds implied hikes hold yesterday’s increase from stronger than expected US data, with a further string of important monthly releases ahead including PCE and durable goods.
  • Sitting at 33bp for Feb, cumulative 49bp to 4.82% for March, terminal 4.89% May and 4.41% for end-23.
  • The terminal is at the top end of the ~4.8-4.9% range seen since the US CPI miss ten days ago.

FOMC-dated Fed Funds futures implied ratesSource: Bloomberg

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