U.S. Treasuries are showing continued weakness this afternoon despite a retracement in some of the risk-on trades for the day. The British pound remains volatile but is still up 2.10% against the U.S. dollar today at $1.4661. The S&P 500 has pulled back to add 1.05% at 2,092.9 while WTI crude is up 2.45% at $49.74/bbl. Gold is down 0.22% to $1,291.9/troy oz. and the U.S. Dollar Index is down 0.57% to 93.67
The probability of a rate hike by year-end is back up to 55% from 24% on Friday but still down from 66% one month ago. That is according to the CME's website, which imputes these probabilities from fed fund futures
