Traders now are increasingly betting that the rate could top out around a range of 4.75% to 5% by early next year, according to CME Group. A week ago, they saw a higher ultimate rate as much more likely, with a sizable chunk expecting something like 5.25% to 5.50%.
The S&P 500 is heading for its third weekly gain in the last four, and its rise of 5.5% is on track to be its biggest since June.
Source: Financial Digest (financialdigest.net)
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