FXStreet (Delhi) – Research Team at Deutsche Bank, suggests that the probability of a Fed hike this month is a tad higher at 74% this morning.
Key Quotes
“One of the last remaining hurdles is Friday’s payrolls number, although yesterday’s ADP employment change print did little to counter the view that we’ll see anything too surprising having risen 21k last month to 217k and above market expectations of 190k.”
“Treasuries were weak post that data, and weakened further later in the session. A little recovery into the close meant they finished off the day’s high in yield with the 10y still up +3.7bps by the close at 2.181%. The same was true at the short end where 2y Treasuries closed +2.8bps higher at 0.936%, hitting an intraday high of 0.95% which matched the recent highs.”
(Market News Provided by FXstreet)