Just for grins, I took snapshots of the rate hike odds for September and December from CME Fedwatch this morning, then again just a bit ago, after Yellen’s speech.

Here are the results from before and after her speech compared to yesterday.

September Rate Hike Odds

Fedwatch 2016-08-26B

December Rate Hike Odds

Fedwatch 2016-08-26A

The market does not seem to be too pleased with this idea, at least at the moment.

Mike “Mish” Shedlock