News And The Market-Implied Fed Funds Path

Ten-year Treasury yield fell with the FOMC announcement, as CME contracts indicated a lower trajectory:
Here’s the CMEWatch implied Fed funds rates:Figure 1: Effective Fed funds rate (bold black), futures as of 11/13 (sky blue inverted triangle), as of 12/12 (orange square), 12/13 (red square), 4:50pm CT, in %. Source: FRED, CME, author’s calculations.More By This Author:November CPI: Headline, Core, Supercore, Trimmed, Median, And Instantaneous Non-Inflation Release Items: Oil, Urals, Gas Prices, Inflation Expectations, China DeflationThe Inflation Surge Forecasted Or Not


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