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The majority of investors, traders and analysts are convinced that a Fed rate hike is coming. Where they all disagree is the timing.
According to Bloomberg, traders are not pricing in a Fed rate hike through the end of 2017, are assigning a more than 50 percent chance of a rate hike in the beginning of 2018 and aren't pricing in a full rate hike until the end of the year.
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Bloomberg noted that options on EuroDollar futures imply just a 25 percent chance of a rate cut by September, marking a sharp decrease from just two months ago when the prices indicated a rate hike was a "virtual certainty."
Aaron Kohli, a fixed-income strategist at BMO Capital Markets shared a somewhat similar sentiment with Bloomberg. He said that the market "doesn't even begin to price in any real chance" of a rate hike until mid-2017 at the earliest.
Naturally, nothing is set in stone, and Fed policy makers make use of many variables informing a decision.
"You are not going to get any activity out of the Fed right now," James Camp, director of fixed-income at Eagle Asset Management also told Bloomberg. "They do not want financial conditions to tighten any further and they certainly don't want to continue this dollar stampede."
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.