It appears the hope that a centrist candidate will win the French election is enough to trump tumbling macro-economic data, disappointing earnings, and flailing inflation in the US economy. June rate hike odds have spiked to 69% overnight (even as debt ceiling risks begin to price in… and the dollar drops)…

So The Fed gets the all-clear from the market to hike in June…

Even as the Treasury Bill curve inverts over debt ceiling fears…

And the Dollar is not buying it at all…