The market is now pricing in a strong chance of July and Sept cuts

There's a 83% chance of two Fed rate cuts between now and the end of September. That's up from 67% before the Fed statement.

The market is also pricing in a virtual certainty of a July cut with better odds on a 50 bps cut than on no change.

Earlier today:

The market is now pricing in a strong chance of July and Sept cuts

Now:

Fed odds 2