Implied Fed funds rate

Below is the  Curve for the “market implied fed funds rate” over the next 3 years.The green line is Current pricing and the yellow line  is one month ago.What the graphs  are  saying is that markets are started  pricing in a more aggressive path of fed rate hikes then they were 1 month ago.This repricing is  one of the factors weighing on Short end of  Curve .

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