a certeza de um aumento de txs...
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a certeza de um aumento de txs...
CHICAGO, June 4 (Reuters) - Short-term interest rate futures traders expect a 25-basis-point rate hike by the Federal Reserve this month and a series of increases by the end of 2004 after Friday's jobs report.
Prices for fed funds futures at the Chicago Board of Trade responded mildly after the job data was released.
July futures (FFN4) fully price a rate increase after the June 29-30 meeting of the Federal Open Market Committee but show only a minimal chance of a 50 bps move.
A fed funds rate of 2 percent is priced into futures for year-end (FFZ4) with a 60 percent chance that the Fed will push its key yield to 2.25 percent from the current 1.0 percent.
May non-farm payrolls rose by 248,000 compared with median forecasts of a 216,000 increase, but were in line with Wall Street "whisper numbers."
Jobs growth for both April and March were revised higher.
Prices for fed funds futures at the Chicago Board of Trade responded mildly after the job data was released.
July futures (FFN4) fully price a rate increase after the June 29-30 meeting of the Federal Open Market Committee but show only a minimal chance of a 50 bps move.
A fed funds rate of 2 percent is priced into futures for year-end (FFZ4) with a 60 percent chance that the Fed will push its key yield to 2.25 percent from the current 1.0 percent.
May non-farm payrolls rose by 248,000 compared with median forecasts of a 216,000 increase, but were in line with Wall Street "whisper numbers."
Jobs growth for both April and March were revised higher.
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