It is no surprise that the Fed has been remarkably successful in disappointing the market this year. Now that the year is winding down, the probability (or perceived probability, that is) of a near-term rate hike is gaining some weight. Let's hope to read anything but the words "wait and see" in the FOMC minutes!
Comment:
FOMC made some hawkish statements, but wrapped them up with dovish parchment. "Rate hike imminent, BUT let's wait for new data." This decision was essentially priced in, so I think the short is still likely in the long run.