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Near-Term Fed Hikes Close To Post-FOMC Lows

STIR FUTURES
  • Hikes implied by FOMC-dated Fed Funds have dipped in the European session with risk-off sentiment, with 68bps for July and 122bps for Sep near post-FOMC lows.
  • The 182.5bp for the four meetings to Dec is down from 188bp late yesterday but above the 174bps touched after last week’s PMI misses.
  • This trimming continues further out, with the peak in Fed Funds seen at 3.55% with the Mar’23 meeting after yesterday’s intraday high of 3.66%.

Source: Bloomberg

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  • Hikes implied by FOMC-dated Fed Funds have dipped in the European session with risk-off sentiment, with 68bps for July and 122bps for Sep near post-FOMC lows.
  • The 182.5bp for the four meetings to Dec is down from 188bp late yesterday but above the 174bps touched after last week’s PMI misses.
  • This trimming continues further out, with the peak in Fed Funds seen at 3.55% with the Mar’23 meeting after yesterday’s intraday high of 3.66%.

Source: Bloomberg