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Just Keeping To 2x50bp Fed Hikes Fully Priced

STIR FUTURES
  • Fed Funds implied hikes have slipped through the day, with 51bp for Jun and 101bp for Jul, 138bp for Sep and 191bp for Dec, the latter towards the middle of the post-FOMC range.
  • Very similar comments from Bullard (’22 voter) from earlier in the week: 50bp is a ‘good plan for now’, wants to try to get to 3.5% by year-end, the more we can frontload the better, economy may slow but will still be above-trend in 2022 and watching the impacts of global QT.
  • On comments about leaving timing and management of rates to Powell, he’s used a similar phrase in the past.

Source: Bloomberg

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  • Fed Funds implied hikes have slipped through the day, with 51bp for Jun and 101bp for Jul, 138bp for Sep and 191bp for Dec, the latter towards the middle of the post-FOMC range.
  • Very similar comments from Bullard (’22 voter) from earlier in the week: 50bp is a ‘good plan for now’, wants to try to get to 3.5% by year-end, the more we can frontload the better, economy may slow but will still be above-trend in 2022 and watching the impacts of global QT.
  • On comments about leaving timing and management of rates to Powell, he’s used a similar phrase in the past.

Source: Bloomberg