CME Group FedWatch: Market expectations for a June rate hike at 62.7%

According to the CME Group FedWatch Tool, which calculates unconditional probabilities of Federal Open Market Committee (FOMC) meeting outcomes to generate a binary probability tree, the likelihood of a June rate hike is at 62.7%, higher from yesterday's 58.9% but slightly lower from the daily high of 63.5%.

Most Federal Reserve officials reiterated their outlook for gradual interest-rate increases according to minutes of the Federal Open Market Committee’s March 14-15 meeting released Wednesday.They also suggested that a change to the committee’s reinvestment policy would likely be appropriate later this year, supporting the recent statements by FED officials.