Investors and traders will focus on wage metrics to determine whether the Fed will raise rates by either a 50bps or a 75bps at the FOMC meeting this July. The market expects the payrolls growth rate to chill again.
These expectations sparked from the job reports and the June CPI Data soon to be released. The data releases might be a crucial determinant of the trajectory for rate hikes through the remainder of the year; recently, a pacifist repricing of the course of Fed rate hikes from fear of recession has been loosening up. As a result, the money markets have assigned an approximately 50% chance rates will rise to 3.25-3.50% by year-end.
Investors and traders seem reassured of a positive outcome.