Weekly Market Recap – June 12, 2023

Chart of the Week 06-12-2023

On Wednesday, the Fed should provide more clarity on the trajectory of rates after vacillation in market expectations
over the past month, which we illustrate in this week’s chart. As of Friday, the federal funds futures market was pricing in
a 28% probability of a hike in June and a 54% chance of a skip in June followed by a hike in July.

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