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Limited Drop In May FOMC Pricing In Initial CPI Reaction

STIR FUTURES
  • FOMC-dated OIS dips but only to circa 17bps priced for the May 3 FOMC from closer to 19bps prior.
  • * The Dec’23 rate currently slips 13bps on the release, now showing 54bp of cuts from current levels to 4.29% to year-end.

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