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Fed Traders Fully Price In an Interest-Rate Hike Once Again
The rate on swap contracts linked to the July gathering climbed to 5.37% on Thursday, more than 25 basis points above the current effective fed funds rate, before coming back to 5.34% late in New York.
The Fed tends to move in multiples of 25 basis points, so that indicates such a decision is seen by the market taking place either in July or at the Fede...