Markets looking for signs what Fed may or may not do in June - BGC Partners

TipTV’s ZaK Mir, and Mike Ingram, Strategist for BGC Partners, discussed the possibility of a rate hike in the US this year. Ingram said there is zero percent chance of a rate hike by the US Fed today and added that a possibility of a rate hike this year is close to coin toss levels. CME Fed funds futures put the April rate hike probability at zero levels as well.

CME data also shows low probability of a rate hike in June; however, Ingram maintained the June rate hike is still on the table. Given there is no press conference today, markets would scan the policy statement for more clues on interest rates. As per Ingram, Fed’s “neutral assessment” of the outlook would be read as hawkish by markets.

Coming to broker forecasts, both the experts agreed UK’s Petrofac is an attractive bet, given the fundamentals and technical look to be in agreement.

macro, fundamental, uk, us, economy, stocks, petrofac, tips, broker forecasts, CME, central banks, interest rates, technical, equities