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A 25-basis-point rate hike in September is almost certain. A 50-basis-point hike is also possible. If they do hike by 50, it could actually present a great opportunity to buy the dip. If only a 25-basis-point hike occurs in September, another 25-basis-point hike is likely by the end of October. From September through year-end, rates would likely oscillate in this manner. We’re more eager to see market movements after the midterm elections.

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