Coin Flip.
Last week’s big data points were mostly inflation-related with the release of CPI and PPI, but all of a sudden inflation is no longer the big issue it used to be. The trajectory is very much set and meaningful unexpected bombshells are considered rather unlikely, which was borne out in the data on Wednesday and Thursday.
There was also the small matter of the presidential debate, with both candidates beginning to finally tease some actual economic policies that will provide more daylight between them and on which Wall Street can begin to make some financial judgements and, of course, the…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.