Lates News

As the oil price fell over 3% and the market reassessed the prospect of US interest rates, US bond yields and the dollar declined. The CME FedWatch tool showed that the probability of a rate hike this year remains high at 42%, but the probability of a second rate hike decreased from 34% a week ago to 28% due to cooling inflation expectations. A survey by The Wall Street Journal indicated that the University of Michigan Consumer Sentiment Index, to be released at 10 am ET, is expected to rise from 44.8 to 49.