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International Business Times

Business

Oil Prices Keep Soaring And Treasury Yields Remain High. Chances Of a Fed Hike Are Greater.

Oil CME Group Donald Trump Inflation the Federal Reserve

Odds of a rate hike by the Federal Reserve next week now stand above 70%. (Credit: AFP)

Odds of an interest rate hike by the Federal Reserve in next week's meeting climbed sharply on Thursday as oil prices and Treasury yields keep climbing.

Chances now stand at 71.6%, according to the CME Group's Fed Watch tool, compared to 61.2% on Wednesday.

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One subscription that gives you access to news from hundreds of sites

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