Less than two weeks ago, I mentioned that there was only a 33% chance of a rate cut in December, based on “market probabilities” (aka futures/options bets). Today, however, the likelihood of a Fed rate cut this month is pushing 90%! The reasons stem from “dovish” comments by Fed officials and weakening labor markets, with today’s weaker-than-expected ADP report (showing job losses) leading the charge.Read More