Another take from the piece is that today’s market levels reflect 1 - 2 rate hikes are “built in” to the current price levels.
Market participants will prolly continue run it up in anticipation of a more robust/profitable economy until the fed acts.
More like “buy the rumor, sell the fact”?
imho this is the most likely scenario. Maybe by say, Feb. we'll know a lot more about where policy is going, of course by then market prices will have that already "built in" too....