Now virtually zero probability of a rate hike this year

Nearly 24 hours after FOMC release last night, CME Fedwatch Tool is showing:

    1. Collapse in rate hike probability for rest of this year.
    2. Nearly zero probability of one hike and virtually zero for two hikes.
    3. Increased probability of at least one rate cut by end of year.
CME Fedwatch Tool screencap taken 31 January 2019

CME Fedwatch Tool screencap taken 31 January 2019

These were readings captured on 14 January (left) and 16 January.

CME Fedwatch Tool screencap 16 January 2019

CME Fedwatch Tool screencap 16 January 2019 (right) and the one taken on 14 January (left)

Each snapshot captures mood but over time, they provide an indication of trend.

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