Treasury yields are lower this morning with the 2-year back below 4% following yesterday’s selloff while futures on the S&P and Dow are in positive territory. Market expectations that the Fed is close to the end of its tightening cycle. Fed fund futures imply a 74% chance of a hike at the May meeting and that the terminal rate peaks at just over 5% in June, after which rates are expected to dip and end around 4.4% in December.
Hafizan Hamzah
Senior Director, Investment Management Group
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