Why you should expect a rate hike when the Fed meets in June

The Fed calculus is changing fast toward rate hikes -- more and sooner than markets are priced for
  • A rate hike in June is looking more likely.

Long-term rates improved slightly this week, if anything, but the Fed calculus is changing fast toward rate hikes — more and sooner than markets are priced for, and perhaps closer to the Fed’s “damned dots” than any of us have thought.