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Crypto Billionaire Rankles Wall Street Titans With Derivatives Plan



Fed seen going big and then bigger on rate hikes ahead

Futures contracts tied to the Fed’s policy rate now reflect overwhelming expectations for a rise in short-term borrowing costs to the 0.75%-1% range at the Fed’s May 3-4 meeting, and to a 2%-2.25% range by the close of its July 26-27 meeting. Jefferies chief economist Aneta Markowska on Friday said she expects the Fed to use a string of half-point hikes to get rates to a 2.25%-2.5% level by September, a more aggressive path than she had previously anticipated. And Nomura Research analysts, who now see the Fed delivering increases of 0.75 percentage points at each of the Fed’s June and July meetings, said Friday that market bets could help cement that actual outcome.

Netflix sheds subscribers and CNN+ will shut down amid competition from Disney, Hulu, HBO, Amazon Prime and Apple. Have we finally hit peak streaming?

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