Above: Federal Reserve Chairman Jerome Powell. Image © Federal Reserve.

The top line : The odds of a Federal Reserve interest rate reduction next month have fallen further and Nvidia spares the pound blushes.

A big shift in expectations: There's now just a one-third probability that the Fed cuts interest rates in the wake of the release of the minutes for the central bank's most recent meeting.

🔻Market-implied prospects for a December cut dropped from around 50% yesterday to 35% today after it was communicated that the bar for another reduction in the Fed Funds rate was higher than investors were expecting.

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