The market is feeling like a hike in 2016 is much more likely
The bond market is in the midst of a re-think about what the FOMC will do this year. The Fed funds market now sees a 635% chance of a hike in December or earlier, up from 30% on Monday.
Here is the recent change. The green line hasn't been recalculated yet but it's up over 60% now and the blue one below 40%.
