Options traders are increasingly divided on the Fed's near-term rate path,
running the gamut from bets on cuts in coming months to wagers on varying sizes
of hikes. FED SWAPS pricing implies markets largely expect the Fed to hold rates
at Wednesday's meeting; all eyes are on Chair Walsh's first post-meeting press
conference for guidance. Separately, reports that the US and Iran are preparing
to sign a temporary peace accord sent oil to a three-month low, easing near-term
infary pressure, though implications for longer-term policy remain unclear.
