Courtesy of Mish.
Following an unexpectedly weak ISM report, weak auto reports, and a weak jobs report on Friday, rate hike odds shifted from a decent possibility of two hikes by December to a roughly 50-50 chance of one hike in December.
September Cake
- The Fed won’t hike
- The Fed will yap about hiking
- Economists will shift their expectations of a hike to November
September 21 Meeting Odds
December 14 Meeting Odds
August 26 Flashback
On August 26, Fed Chair Janet Yellen gave a speech telling the market to prepare for hikes. Here is the before and after speech results.