Ten-year Treasury yield daily close: 2.90%Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index ; Ether is the CoinDesk Ether Price Index ; Gold is the COMEX spot price. Information about CoinDesk Indices can be found atFed Futures Traders Now Betting on 100 Basis Point Interest Rate Hike After CPI Release
Futures traders are now seeing more than a 50% chance that the Fed will raise the target rate to 250-275 basis points at its meeting later this month. that the Federal Reserve will raise the target interest rate by 100 basis points, or one full percentage point, to 250-275 basis points this month, up from only 7.6% a day prior and 0% a week prior.
The odds of the Fed reprising June’s 75 basis point hike to a target rate of 225-250 is down to 33% from 92.4% a day ago. On Wednesday, the Labor Department released the CPI, the most widely tracked measure of inflation, showing the highest inflation gauge in four decades. “The fresh inflation high could give central bankers the green light for another aggressive rate hike. The Fed has prioritized the battle to stabilize prices over any push for economic growth at this point in time,” Helene BraunThe Federal Open Market Committee is scheduled to meet on July 26-27 to discuss further monetary tightening.
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