"Despite recent market volatility we think that it is still more likely than not that the Fed will raise rates," said ANZ senior economist Tom Kenny. "But we lean slightly toward the Fed removing the reference to the need for "further gradual increases". "He also expects the median Fed forecast, or dot plots, to drop to two rate rises next year, from the three projected back in September. "Investors are close to extreme bearishness," said Michael Hartnett, chief investment strategist at BofAML. "All eyes are on the Fed, and a dovish message could equal a bear market bounce.

Source: The Star December 19, 2018 00:11 UTC