A look at the day ahead in U.S. and global markets from Mike Dolan
raised its estimate for peak ECB interest rates for the second time in as many weeks, saying it now expects rates to go up by 50 basis points at the May meeting, taking the 'terminal rate' to 3.75% by June.
Even though U.S. consumer confidence and housing data on Tuesday questioned some of the reheating narrative, markets now assume peak Federal Reserve rates will be as high as 5.42% by July. Two-year Treasury yields pushing to their highest in almost four months to 4.86%.
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