Markets are suddenly eyeing the possibility that the Fed could hike interest rates in the next year

NYSE

• Markets think a Fed rate hike might be in the cards in the next 12 months.
• It's a bearish about-face from upbeat outlooks earlier this year, with analysts eyeing more cuts from the Fed.
• Markets are growing more concerned about the inflation fallout from the Iran war than about the job market.

The market has turned decidedly more bearish in its outlook for interest rates, with the possibility of a rate hike steadily edging higher in recent weeks.

The...