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Editor's Note: The chart and excerpt below are from today's Early Look written by Hedgeye CEO Keith McCullough. Click here if you would like to learn more about how you can subscribe and stay ahead of consensus.

CHART OF THE DAY: Fed Rate Hike Expectations Crashing - z cod bbb

"...Last week’s Down Dollar move was the 2nd in as many weeks. As you can see in our Chart of The Day (Fed Fund Futures), post the #LateCycle US employment slowdown, the probability of a “rate hike” has crashed again."