CME Group Fedwatch: Federal funds futures imply traders see about 53% chance of Fed cutting rates in July

According to the CME Group FedWatch tool, Federal funds futures imply traders see about 53% chance of the Fed cutting rates in July vs 18% chance a week ago, as reported by Reuters.

• Traders see about 85% chance of Fed cutting rates in December vs 48% chance a week ago.
• Traders see about 97% chance of Fed cutting rates in December vs 77% chance a week ago.
• Traders see about 80% chance of Fed cutting rates twice or more by year-end vs 70% chance a week ago.
• Traders see 6% chance Fed lowering rates below 1% by mid-2020.