Markets close to fully pricing in Fed’s 25 basis point hike in May

According to CME “Fed Watch”: the probability of the Fed keeping interest rates unchanged in May is 1.6%, and the probability of raising interest rates by 25 basis points is 98.4%; the probability of maintaining interest rates at the current level by June is 9.9%, with a total of 25 interest rate hikes The probability of a basis point is 89.9%, the probability of a cumulative rate hike of 50 basis points is 0%, and the probability of a rate cut of 25 basis points is 0.1%.