Market holding steady with the Fed in mind
The S&P 500 is up 0.1% as the market continues to digest expectations for the Fed to tighten policy more aggressively. These expectations are most evident in the 2-yr yield, which is currently up three basis points to 1.64%, leaving it up 13 basis points in three days. As mentioned in the last comment, expectations for a rate hike have moved up to May, although there's still a greater chance for a rate hike in June. Interestingly, the 10-yr yield is now trading lower by two basis points to 1.64% after flirting with 1.70% in the morning.