STIR: Effective Fed Funds Rate
Apr-07 13:20
FRBNY EFFR for prior session:
- Daily Effective Fed Funds Rate: 4.83% volume: $98B
- Daily Overnight Bank Funding Rate: 4.83% volume: $122B
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US TSYS: Post-ADP React, Bonds Dip, Curves Extend Inversion
Mar-08 13:18
- Tsy 30Y Bonds pare gains after Feb ADP comes out little stronger than estimated at +242k (+200k est), 2s tick lower but remain off overnight lows (101-11 -2.75 vs. 101-09.25 low), 2s10s curve falls to -110.375 low.
- Fed funds implied hike for Mar'23 at 42.4bp, May'23 cumulative 75.1bp to 5.324%, Jun'23 97.2bp to 5.545%.
- Fed terminal rate climbs to 5.665% in Oct'23 vs. 5.46% before Tuesday's testimony.
USD: Pulling back towards flat.
Mar-08 13:12
- The Dollar is still pretty much unchanged throughout the morning session, close to flat against JPY, CHF, EUR,CAD, SEK and the Pound.
- Best performer is now the NOK, up 0.37%, and small support moves up to the 10.62 area, which is still 11 big figures short of where USDNOK was trading pre Fed Powell.
- USDNOK was trading around 10.5181 pre Powell..
Chart source: MNI/Bloomberg
US TSY FUTURES: Bonds Continued Support Ahead ADP
Mar-08 13:10
Tsy 30Y Bonds (USM3) trading 125-20 (+18) ahead ADP Employment Change at 0815ET (106k prior, 200k est); 2s10s curve falls to new inverted low of -109.242.
