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The market has formed an overwhelming consensus: the Federal Reserve will keep interest rates unchanged in July.
Funds betting on "no change" account for as much as 93%, with odds of only 1.08x, indicating very high certainty;
bets on a 25 basis point cut are only 3%, and on a 25 basis point hike are only 2%, making expectations for rate changes almost negligible,
and traders are unanimously predicting that the Federal Reserve will hold steady in July.