“It would be an incredible surprise if the Fed didn’t lift rates by 50bp at this meeting – this is well priced, with the swaps market pricing 51bp of hikes – where we do see an issue is pricing around the June FOMC (Federal Open Market Committee) meeting, with a 25% chance of 75bp hike – this seems a tad lofty, but it has come down from 50% last week,” Chris Weston, head of research at Pepperstone, wrote in the Daily Fix newsletter.
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