Wall Street’s banks are telling clients that the Federal Reserve is unlikely to raise rates when its board meets in June. We've spoken to a half dozen industry sources and all said they don't believe the Fed will raise rates until September at the soonest. This is certain to have wide-ranging impacts: the Fed keeping rates at 0% will support M&A, and could breathe life back into an otherwise limp IPO pipeline. If the Fed decides to not increase rates in June, the market will have until September before the next prospective rate hike. “It’s priced into the market, but not yet for M&A arbitrage funds,” said one hedge ... (full story)