JoAnne Bianco: Weak data may reduce the probability of the Federal Reserve raising interest rates in December

JoAnne Bianco, Senior Investment Strategist at BondBloxx Asset Management, stated that if labor market data weakens, consumer demand slows, or financial conditions tighten, it may reduce the likelihood of a Federal Reserve rate hike in December.

Current money market pricing shows a 74% probability of a 25 basis point rate hike by the Federal Reserve in December.