Surprisingly healthy employment data has tipped expectations for a rate hike at the Federal Open Market Committee’s (FOMC) meeting higher this week, with interest rate traders now placing the likelihood at 58.4%.
According to CME’s FedWatch, nearly 60% of investors are betting on a 25bps hike to 3.75% to 4%, with the remainder of bettors suggesting the Kevin Warsh-led central bank will instead announce a hold.
