Coincident with the pullback in most markets over the past few weeks on doubts with the robustness of the 2nd half global economic recovery, the fed funds futures have been pricing in lowered odds of a fed rate hike by year end. Odds of a 25 bps hike to .50% by December is near 20% today, down from 44% one week ago and 100% one month ago.
Read this next.
Previous PostBill Miller is Back? Hardly.