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Interest rate futures reflected lower odds of further rate cuts when the FOMC meets in December or early next year.
The Fed is ?°telling you they??re on hold probably through December?±, said Charles Comiskey, head of Treasury trading at HSBC. But investors continued to price in a high probability of a cut in rates to 4.25 per cent after the January FOMC meeting.
The dollar fell to a new record low of $1.4504 against the euro. The broad equity benchmarks briefly erased gains and fell into negative territory, but later rallied. By the close of trading, the S&P 500 had risen 1.2 per cent from its low for the day...
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