Fed funds futures traders continued to boost their expectations for no further rate hikes by the Federal Reserve this year, after Wednesday’s data on private-sector payrolls and revised second-quarter GDP. The chance of no action by the Fed in September was seen at 90.5%, up from 86% a day ago, according to the CME Fed Watch Tool. Traders see a 57% and 55.5% likelihood of no action respectively in November or December, which would leave the fed funds rate at between 5.25%-5.5%.
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