Benchmark
Traders Are Now Expecting the Fed to Raise Rates Later Than Ever Before
Market expectations are for no rate increases from the Federal Reserve before the last week of November
Janet Yellen, chair of the U.S. Federal Reserve, speaks at the Federal Reserve System Community Development Research conference in Washington, D.C., U.S., on Thursday, April 2, 2015.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Ahead of the March jobs report, traders are expecting the Federal Reserve to raise interest rates later than ever before.
As of Wednesday's close, Federal funds futures implied liftoff from zero in the final week of November, according to an index maintained by analysts at Morgan Stanley. That's been pushed back from September as of two weeks ago, before the policy-setting Federal Open Market Committee's March meeting.