Markets see 95% chance of Fed rate rise on Sept. 15-16

Traders now put a 95% chance on the Federal Reserve raising interest rates at its Sept. 15-16 meeting, Bloomberg reported Sept. 15, up from 54% on Sept. 3, per Reuters. That expectation pushes up borrowing costs and the dollar, and weighs on gold, which pays no interest. In my view, markets leave little room for a tougher-than-expected surprise.