Rate-cut odds for December just ripped from 23% to 85% on Polymarket, all because that PPI print came in softer than anyone expected.



Traders basically went from “maybe” to “yeah, it’s happening” in the span of a few days.

If the Fed actually pulls the trigger, risk assets won’t wait for the announcement, they’ll start pricing it in now.

Q4 just got a lot more interesting.
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