Traders lift bets on one more rate hike this year up above 50%

Traders on the federal-funds futures market ramped up their bets for one more rate hike this year to above 50%, according to CME Group data. 47% of the odds were on a quarter-percentage point point hike for the Dec. 13 policy meeting, and 3.4% of the odds were for a half-percentage point hike. This was in sharp contrast to last Friday's reading of a 37.4% chance of a bump to interest rates. The shift in sentiment in favor of monetary tightening comes in the wake of a raft of stronger-than-expected economic data led by retail sales and Fed President Dudley's comments on Monday suggesting he......(read more)

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