Traders have never been more convinced of a September rate hikeby the Federal Reserve.
The chances of an interest-rate increase next monthreached 52 percent Wednesday, up from just 38 percent just two daysearlier. What fueled the change of heart? Hawkish comments from FedBank of Atlanta President Dennis Lockhart on Tuesday and asurprisingly strong report on U.S. service-sector growthWednesday.
“I'm more convinced that they're going to raise in September,”said Christopher Sullivan, who oversees $2.4 billion as chiefinvestment officer at United Nations Federal Credit Union in NewYork. “The market has come around to that view, by a slimmajority.”
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