Fed Dealers’ survey: Odds of QE were falling even before last FOMC meeting

According to the just-released NY Fed survey of primary dealers (those firms that participate at Fed auctions), chance of a third round of QE had slipped to 50% from 55% in the last survey, in the view of the dealers, even before the more hawkish FOMC statement of March 13 and the minutes yesterday.

They are likely significantly below that level today.

The full report is here (pdf)