What's expected from the Fed
Minutes before GDP, TD Securities changed their Fed fall to March 2016 from September. They may have to scale that back if economic data remains upbeat.
- The OIS market sees a 25% chance of a Sept hike
- The probability of Dec hike rose to 64% from 58% after GDP
The debate leaves stock markets in a bit of a conundrum because if we bounce right back, a Sept hike is more likely.