Rate hike expectations based on Fed funds futures:
– October 28 meeting: 8% chance of hike vs 10% chance on Monday
– Dec 12 meeting 39.3% chance of hike vs 35.2% chance on Monday
Generally, the market saw a small improvement in the likelihood of a hike this week. Economic data was light but the rip higher in stocks was a big factor and it’s been stoked by better global growth sentiment.
