The odds the Federal Reserve will announce a rate hike at next week’s FOMC meeting have jumped again.
According to the CME Group’s FedWatch tool, the probability of a rate increase was over 90 percent on Thursday – with the expectation the benchmark fed funds rate will rise by 25 basis points to the range of 0.75 percent and 1 percent.
Since 1994, there have been 33 fed funds rate hikes. Using hedge fund analytics tool Kensho, CNBC conducted a study to see which areas of the market perform the best the week before a Fed decision during a rate hike cycle.
