Market sees nearly 50% chance of a Fed rate cut by the end of January 2020

The fed funds futures market is assigning a 48.9 percent probability of at least one rate cut by Jan. 29.

Markets are becoming more convinced that the Federal Reserve will be more accommodative on interest rates.

Futures contracts are also implying a 39 percent probability of a rate decrease by Dec.11, up from only 23 percent before the Fed's policy decision at 2 p.m. on Wednesday.

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