Killy_Mel
Long

MACRO VIEW: IRX REFLECTS RATE HIKE EXPECTATIONS

INDEX:IRX   13-Week Treasury Bill
IRX             , the 13-Week Treasury Bill             yield has spiked above its relevant highs of 0.05 after the recent FOMC announcement, which hinted of a potential review of the Fed's Target Range for the Federal Funds Rate (now at 0-0.25%)

This spike in prices indicates that at the moment the expectations for the rate range hike are present, as IRX             is closely correlated to Federal Funds market (see Daily Effective Federal Funds rate             at NY Fed website)

Thus if IRX             doesn't roll back below 0.05, until l the next Fed meeting, the rate range hike could be in the cards!
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