Chance of hike. Chance of cut. Selloff in interest rate futures.
Fed's Dudley said sees a hike before year end and the start of QE as well.
The comments have sent US short term interest rate futures to session lows (higher rates). At the same time the odds of raising rates at the December meeting moved to 41% AND the chance of the Fed cutting rates showed a 2% chance by year end. That is the first time the market priced in a cut by year end since March.
So there is a little bit of something for everyone I guess (although the odds are still for a hike vs a cut).
