FOMC minutes will be looked at for fresh insight - BBH

Research Team at BBH, suggests that many investors are warming to the idea that the Fed will hike rates in December and today's FOMC minutes will be looked at for fresh insight. 

Key Quotes

“The fact of the matter is there were three dissents to the FOMC statement in favor of an immediate hike, and subsequent comments suggest others were sympathetic.  Both Yellen and Fischer have acknowledged it was a close call.  Bloomberg calculates that the pricing of the Fed funds futures strip implies a 57.1% chance that Fed funds target will be 50-75 bp by the end of December.  The CME's estimate is 64%.  Our calculation puts us closer to the CME.”