TUESDAY 5/31/16; Japan and Korea Data; China Flash Crash; SSEC +3.3%; EOM (End-of-Month); MDT; Personal Income and Outlays; Chicago PMI; Consumer Confidence; WDAY

At 8:14 AM Tokyo (9:14 AM Sydney; 7:14 AM Hong Kong; 1:14 AM Frankfurt; 12:14 AM London; 7:14 PM EST Monday evening in the States; 4:14 PM PST California, USA), US futures are 














[Text is Redacted: Purchase May 2016-05 to Read the Complete Chronology]

Fed Funds futures indicate only a 24% chance of a June rate hike. It was a paltry 4% chance two weeks ago and jumped to a 34% chance after Yellen and other fed heads started jawboning a hike and now drops lower again. The bond market is not buying the hike that Yellen is selling. There is a 54% chance of a hike in July; call it a 50/50 chance.