Courtesy of Mish.
For the first time in a long time, CME Fedwatch shows the odds of a rate cut in December rose considerably above zero. Considerable means 2.6%.
Yes, that’s a long shot, but cut odds were zero on Thursday, zero a week ago, and zero a month ago.
Moreover, rate hike odds which a week ago were over 53.2% are now down to 35.9%.
December Rate Hike Odds
May 2018 Rate Hike Odds
No Hike Until June 2018?