As interlaced economic data continues to increase uncertainty, the US interest rate market now suggests that the possibility of the Federal Reserve suspending interest rate hikes at the June meeting seems higher than a new round of monetary policy tightening. Swap data shows that the probability that the Fed will raise interest rates by 25 basis points in June is about one-third, but it is more likely that it will remain on hold. The data shows that the probability of interest rate hikes by July is about four-fifths, while the probability that the austerity cycle is now completely over is one-fifth.