Morning Note | April 19, 2022

Good Morning!

Futures are flat this am as the 10-yr rate edges ever closer to 3.0%. l. Yields may be reacting to Bullard comments saying he would not rule out a 75bps hike but it is not his base case; he thinks the Fed should target a 3.5% benchmark rate claiming it would get inflation under 3% in 2022. The CDC’s mask mandate for travel was struck down; …