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Though the Fed's rate lock only extends to mid-2013, Citi's Steven Englander points to trading...

Though the Fed's rate lock only extends to mid-2013, Citi's Steven Englander points to trading in the futures pits on fed funds contracts as an indicator that the market isn't pricing in a Fed rate hike until H2 of 2014. This week the fed funds market gains some more detailed info to digest with the release of the rate forecasts of individual FOMC members.
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