You can't make this up:
Prediction markets now show a 36% chance of ZERO interest rate cuts in 2024.
To put this in perspective, 4 months ago there was a ~3% chance of no rate cuts in 2024.
The base case has gone from 6 rate cuts to 1 rate cut this year.
There is just a 31% chance of 2 or more interest rate cuts this year.
In other words, there is a higher chance of NO cuts than 2 OR MORE cuts.
This could be the fastest shift in Fed expectations of all time.
Truly incredible.
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