Fed's Beige Book offers hint of more good news on inflation
“Compared with the last reporting period, price growth was the same or slower in all Districts,” according to the National Summary of the Federal Reserve’s just-released Beige Book .
Combined with soft inflation reports from the past two days and dovish comments from New York Fed President John Williams, the news would appear to take any chance of a July rate hike off the table.
Additionally, odds of a boost in rates by September have dipped to 48% from nearly 70% one week ago, per CME FedWatch .
The two-year U.S. Treasury yield has slipped further, now down 7 basis points on the day to 4.12%. Bitcoin continues in a tight range on both sides of the $65,000 level.