• German DAX futures +0.3%
  • UK FTSE futures +0.2%

Equities are keeping the good mood from yesterday going so far, with S&P 500 futures also seen up 8 points, or 0.2%, at the moment. Markets are toning down their expectations for a 75 bps rate hike by the Fed next month but we'll have to run it all back again at the start of September with the same set of data points before the FOMC meeting.

Odds of a 75 bps rate hike fell off from ~68% to ~30% in the aftermath of the US CPI data but have retraced slightly back to ~43% now.