The LIBOR-OIS spread (between the 3 month Libor rate and the 3 month USD swap overnight indexed swap [OIS]) has risen to its highest levels since early 2012.
April Tax Collections Still Running Red Hot Mean That Fed Must Get Tighter
The Fed is Tightening Into a Sheet Storm
The 3 month LIBOR rate is now at 2.145%.
The implied probability of a Fed rate hike at the next meeting is 99.7%.
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