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Fed Terminal Near Post-FOMC Minutes Highs

STIR FUTURES
  • Fed Funds implied hikes have pushed back towards yesterday’s post-FOMC minutes highs after easing slightly overnight.
  • 30bp for Mar, cumulative 56bp for May and 78bp to 5.37% terminal Jul before 19bp of cuts to 5.18% Dec (all within +/- 0.5bp from yesterday close).
  • Fedspeak: In case missed, NY Fed’s Williams said late yesterday that goods inflation may not slow as quickly as hoped and non-housing core services prices still high. Ahead, ’24 voters Bostic and Daly speak for first time since Feb 6 and 3 (both after payrolls but before CPI) with the terminal some 25bps higher since then.

Source: Bloomberg

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