The market has scaled back Fed rate hike expectations, pushing the rate hike timeline from October to December.

BlockBeats News, July 2nd. The US short-term interest rate futures surged after the non-farm payroll data was released, leading to a reduction in market expectations of a Fed rate hike. The market had already priced in the expectation of a December rate hike by the Fed, shifting from the previous expectation of a rate hike in October.