Fed rate hike likely in march 2016

US financial market conditions have deteriorated in recent weeks and the pace of deterioration has accelerated in recent days. Most emerging market currencies have depreciated against the dollar, equity markets in both advanced and emerging market countries have plunged, and advanced economy bond yields are sharply lower, with US 10-year yields dipping below 2%. 

"The FOMC will delay the start of the rate hike cycle beyond September as a means to offset tighter financial conditions while it evaluates the effect of recent volatility. Many FOMC members will want to see whether the recent moves in financial markets reflect greater weakness abroad than is currently apparent in available macroeconomic data. Therefore, the first rate hike expectation is extended from September 2015 to March 2016", says Barclays.