Traders are increasing their bets on a rate cut by the Fed, with the probability of a 25 basis point cut in September currently reported at 91.7%.

On September 10, according to CME's "Fed Watch" data, traders increased their bets on a Fed rate cut after the PPI data was released. The probability of a 25 basis point rate cut by the Fed in September is currently 91.7%, while the probability of a 50 basis point cut is 8.3%. The next two FOMC meeting dates are September 17 and October 29.

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