- The US Census Bureau reported that US factory orders in September contracted by -0.5%, slightly more than the expected -0.4%, but there was an improvement over August's -0.8% decline.
- Last week’s rising US inflation and dismal jobs report raised the chances of the Federal Reserve reducing rates in 0.25% chunk sizes.
- The Federal Open Market Committee (FOMC) is anticipated to cut rates by 25 bps at its November 7 meeting.
- Data from the Chicago Board of Trade, based on the December fed funds rate futures contract, indicates that investors are pricing in 50 basis points (bps) of Fed easing by the end of the year.
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