Negative Rates Bets Are Going Global to Ire of Central Banks
(Bloomberg) — Traders around the world are forging ahead with bets on negative interest rates, even as central banks mount a vocal counteroffensive.
Fed funds futures reflected bets for a negative U.S. policy rate for a fifth day, despite Federal Reserve Chairman Jerome Powell s attempts to challenge the prospect Wednesday with assurances that such a move is unlikely. While expectations for a shift moderated slightly after Powell s speech, traders are still prepared for a move during the first half of next year.