The market's expectations for the Federal Reserve to cut interest rates in December are growing stronger. According to CCTV Finance, CME Federal Funds Rate futures data shows that the market bets on a 25 basis point rate cut in December, with the probability soaring from about 40% a week ago to over 80% overnight.

The latest CME "FedWatch" tool shows that the probability of a 25 basis point rate cut in December has reached 84.9%, while the probability of keeping the rate unchanged is only 15.1%.

In addition, the market expects that by January next year, the cumulative probability of a 25 basis point rate cut will be 66.4%, the probability of a 50 basis point rate cut will be 22.6%, and the probability of keeping the rate unchanged is only 11.1%. This indicates that investors generally believe that the Federal Reserve will begin a rate cut cycle before the end of the year.