As everyone knows by now inflation numbers came in recently and we're much better than expected, hence the market rally.
With inflation coming down the current consensus for a 50bps hike is 85% for the next FOMC meeting on December 14th.
It's also worth noting that the December CPI report will come out on the 13th, so if CPI comes in lower again, there's a good chance of a slowdown in rates hikes.
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