US bond market not ready for up to 3 Fed rate hikes
Futures contracts show traders are banking on one move this year with odds of a second one at 51% during 2017
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FEDERAL Reserve official Charles Evans has added his voice to forecasts for up to three interest-rate increases by the end of 2017. The bond market shows traders aren't ready for that many.
Chicago Fed president Mr Evans joined San Francisco counterpart John Williams, who last week said he supported one rate move this year and "a few" the next. Pacific Investment Management Co said this month US rates may rise two or three times over the period. Futures contracts show traders are banking on one move, with the odds of a second one being no more than a coin flip.
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