The Day Ahead: AM Edition 2022-05-04

Will the market decide that the rate hikes are factored in?

Bonds

Little real change in ZB this morning which makes sense. There was a brief push to a new low under the May 2nd low before a bounce. A retest of the April 19th low or even a poke under is still possible on the FOMC statement or during the press conference. If over 140^18 at some point would probably mean that a bigger retrace in price or time is sta…