November 23, 2022 19:30 GMT
Fed Terminal Dips Below 5% On FOMC Minutes
STIR FUTURES
- The FOMC-dated OIS terminal rate sits at 5.0% having briefly dipped below, down 4bps on the release of the minutes and 6bps on the day.
- Follows “various participants” expecting the terminal rate to be “somewhat higher than they had previously expected”, perhaps an indication of less chance of 2023 dot being bumped up from 4.5-4.75% in the September SEP.
FOMC-dated OIS implied rate with May'23 meetingSource: Bloomberg
85 words