Via the Bank of America's global fund manager survey for July

  • Most investors anticipate that the Federal Reserve will start cutting interest rates in September
  • 56% of responding investors expect a first Fed rate cut at the September 17/18 meeting
  • 87% anticipate a first cut in H2

I popped up this from FedWatch (CME) yesterday, the probability has risen further now, to 95.5%:

fedwatch September fomc meeting 17 July 2024 2