Well, I think we all knew where today was going. Starting the day, CME data had the likely hood of a pause at 99% and what did we get? A pause. The real focus for traders today was the new Fed dot plot which surprised most with the median rate forecasted to be 5.125% (est. 4.875%) for 2024. The US2Y rose to 5.16% after the release, a level not seen since 2006. When it comes to the possibility of another hike this year, Fed officials remained mixed. Twelve officials see one more rate hike this y…
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