Updating short end ahead Fed Chairman Powell's policy testimony to Congress at the top of the hour.
- Fed funds implied hike for Mar'23 climbs slightly to 31.2bp (0.7), May'23 cumulative 60.5bp (+.7) to 5.181%, Jun'23 78.7bp (+1.2) to 5.363%, terminal at 5.465% in Oct'23 vs. last Thu's 5.51% cycle high.