January 11, 2023 11:25 GMT
Fed Rate Path In Week’s Tight Range
STIR FUTURES
- Fed Funds implied hikes little changed with 31bp for Feb 1 (+0.5bp), cumulative 50.5bp to 4.84% Mar (unch), terminal 4.94% Jun (unch) and 4.45% Dec (-1bp).
- The terminal holds circa 10bps lower than shortly before Friday’s payrolls/ISM services hit, awaiting tomorrow’s CPI.
- No Fedspeak today. No spillover from ECB’s Holzmann or Villeroy earlier with Rehn and De Cos still to come.
FOMC-dated Fed Funds futures implied rates at specific meetingsSource: Bloomberg
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