Fed-funds futures suggest traders increasingly believe 2023 hikes are finished


Fed fund futures traders boosted the likelihood of no further rate hikes by the Federal Reserve in September, November or December on Thursday, a day after a mixed consumer price index report for August was released. After factoring in a 97% probability that the Fed will leave rates unchanged at between 5.25%-5.5%, traders now see a 63.7% likelihood of no action in November and 59.9% chance of the same for December, according to the CME FedWatch Tool. That’s up from 57.4% and 53.8% respectively on Wednesday, despite Thursday’s better-than-expected producer price index and retail sales data for August. Treasury yields swung between advances and declines Thursday morning, with the policy-sensitive 2-year rate hovering at just under 5%.

This article was originally published by Marketwatch.com. Read the original article here.

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