[Citi Traders Bet on Fed Holding Rates Steady This Week] According to a report by Jinse Finance, on July 28, Citi traders are betting that the Federal Reserve will hold interest rates steady this week, despite the swaps market estimating a more than one-third probability of a 25-basis-point rate hike. Currently, the swaps market places the probability of a 25-basis-point rate hike by the Fed this week at nearly 40%. Previously, escalating tensions in the Middle East triggered sharp fluctuations in oil prices and U.S. Treasury yields, intensifying market concerns about inflation. Akshay Singal, Citi's Global Head of Short-Term Rate Trading, stated that they remain firmly convinced the Fed will stand pat. Fed Chair Walsh has made it clear that he wants the market to focus on the data, and the data tells us there is no need for a rate hike at this time.