Fed futures are now staying there is a 100% chance of a 25bps cut in the fed funds rate by September. Its tricky, though because the dollar has fallen, and with lower rates could fall further. Of course, the news from Europe probably means the dollar strengthens today.
Balancing act....
I get emails from the CME about their Fed futures, but they only send them out a few days before an FOMC meeting, and the probability for a rate cut for the meeting just concluded was 12%. Where are you getting this indicator for September? I like that kind of stuff.
We need to coordinate with Europe and get them to stop raising their rates, but there is zero chance W will do that.