Traders bet on a September rate cut after the Fed released minutes from its June meeting.

On July 10, according to CME "Fed Watch" data, after the release of the Fed's June meeting minutes, the probability of the Fed keeping interest rates unchanged in July is 93.3%, which is basically the same as the probability of the previous day.

It is worth noting that the probability of the Fed keeping interest rates unchanged in September is 28.1%, a significant decrease from 35.4% the previous day. At the same time, the probability of a 25 basis point rate cut increased from 60.8% the previous day to 67.2%.