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
December Rate Hike Odds
The market does not seem to be too pleased with this idea, at least at the moment.
Mike “Mish” Shedlock