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
- Jan 27 meeting 47.8% chance of hike vs 43.0% chance on Monday
- March 16 meeting 61.4% chance of hike vs 56.7% chance on Monday
- April 27 meeting 65.2% chance of hike 61.0% chance on Monday
- June 15 meeting 76.2% chance of hike 72.7% 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.
