What Yesterday’s Rate Cut Means for Markets
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What’s in Today’s Report:
- What Yesterday’s Rate Cut Means for Markets
Futures are slightly lower mostly on digestion of the week’s news and after Chinese stimulus only met expectations.
China announced a 1.4 trillion-yuan fiscal stimulus program (so government spending) although that only met expectations and is seeing a mild “sell the news” reaction.
Today the calendar is relatively quiet (especially considering what a busy week it’s been already) but there is still one notable economic release, the University of Michigan Consumer Sentiment (E: 70.8) and, contained in that report, the One-Year Inflation Expectations (E: 2.7%). Markets will want to see both numbers hit expectations and not be “Too Hot” (especially for inflation expectations).
We also have two Fed speakers today, Bowman (11:00 a.m. ET) and Musalem (2:30 p.m. ET), but given the Fed decision yesterday they shouldn’t move markets.
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