Laserfiche WebLink
PFM Asset Management LLCREDWOOD CITYFor the Quarter Ended June 30, 2017Market UpdateOn June 14, the Federal Open Market Committee (FOMC) raised rates for the fourth time since the recession by 25bps, lifting its target rate to 1.00% - 1.25%.Market implied probabilities indicate that there is a 52% chance of the Fed raising rates at their December meeting. Additionally, the market has priced in a 45% chance of one more hike this year.Fed Rate Hikes Expected in 2017Source: Bloomberg, based on Fed Funds Futures (Effective rate) by Bloomberg.Probability of Fed Rate Hike0%10%20%30%40%50%60%12345Number of Total Rate Hikes Expected in 2017Meeting 6/30/20177/26/2017 0%9/20/2017 16%11/1/2017 17%12/13/2017 52%1/31/2018 53%186.1.C. - Page 30