Markets price only 19% chance of Fed rate hike on Oct. 28

Money markets priced only a 19% chance of a Federal Reserve rate hike on Oct. 28, down from up to 70%, the Wall Street Journal reported Oct. 9. U.S. and European bond yields rose that day but stayed below recent highs. I read this as near-term relief for borrowers, with long-term rates still doing the tightening.