Markets back open today. It appears that there are a lot of nervous traders on Wall Street and to a lesser degree in Chicago. Federal Reserve Board’s September meeting opens a week from today.
Latest CME FedWatch tool gives traders reason to be nervous in our view. Current FedWatch tool shows a 38% chance there’ll be no change in rates, but it still does show 62% chance of a quarter point rate hike. Most of that speculation could be already priced in, but a lot of analysts say raising rates right now is not a good idea.
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Audio Reporting by Mark Oppold for Southeast AgNet.