The Feds next move will become much clearer on June 17

When the Federal Reserve announces the outcome of its next meeting on June 17, traders and investors will be quickly reviewing the commentary to find out where officials expect the Fed Funds rate to be at the end of the year. “In March, the median estimate of the 17 officials who sit on the U.S. central bank's policy-setting Federal Open Market Committee was 0.625 percent -- implying two interest-rate increases this year. As of today, market participants are convinced the Fed will do one in September, but aren't so sure the central bank will follow through with the second one.” At the moment the September fed funds futures contract is trading at an implied yield of 0.21% suggesting a 93% chance that the Fed will lift rates in September, whereas the odds of another lift in December are about 50%. (VIEW LINK)

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