Free Trial

Fed Terminal Pulls Back From Fresh Highs Late Yesterday

  • Fed Funds implied hikes have pulled back from fresh cycle highs late yesterday as attention turns away from Powell to payrolls tomorrow.
  • 42bp for Mar (-0.5bp), cumulative 77bp for May (-1bp), 108bp to 5.65% terminal in Sep (-4bp) before 14bp of cuts to 5.51% year-end (-4.5bp).
  • Fedspeak: Calendar still devoid of scheduled speakers, with only VC Supervision Barr on crypto today before the media blackout starts Fri midnight (after payrolls).

FOMC-dated Fed Funds futures implied ratesSource: Bloomberg

To read the full story


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.