CME Group FedWatch shows 64% chance of Fed cutting rates by 75 bps by year-end

Following the disappointing ADP private sector employment data, the CME Group FedWatch showed that according to Fed funds futures, the probability of a total of 75 bps Fed rate cut before the end of the year rose to 64% from 14% a week ago. 

Furthermore, the probability of a rate cut in June rose to 33% from 10% seen last week.