November 09, 2022 19:27 GMT
Fed Terminal Holding Around 5.1% Ahead of CPI
STIR FUTURES
- Fed Funds implied hikes have cooled modestly in past few hours, more notably so for 2H23.
- 57.5bp for Dec (+1bp on the day), cumulative 97bp to 4.81% for Feb’23 (+1bp), terminal 5.09% for Jun’23 (+0.5bp) and 4.75% for Dec’23 (-2bp).
- Barkin (’24 voter) earlier: “I like the idea of going slower for longer to a potentially higher place, because it will give you time to read the data and what you're learning from contacts and react appropriately”.
75 words