- The FOMC will have some more weak economic numbers to chew on as it begins its two-day policy meeting today, with consumer confidence, durable goods orders, and PMI services all coming in well below expectations.
- There's also disappointing Q3 results from the likes of Cummins (and more job cuts), UPS, and lodging REITs to consider.
- Very few are predicting a rate hike tomorrow, but possibly there will be some hint as to whether the central bank plans to keep its promise to hike before year-end even as the economic data continues to soften.
- The 10-year Treasury yield is down four basis points to 2.02%. TLT +0.45%, TBT -0.9%
- Thirty-day Fed Funds futures are pricing in about zero chance of a rate hike tomorrow and just a one-in-three chance of a boost in December.
- ETFs: IEF, PST, IEI, TYO, DTYS, UST, VGIT, TBX, SCHR, GSY, TYD, ITE, DTYL, DFVL, FIVZ, TBZ, DFVS, TYNS, SYTL