Quick Update Mornings Trading

Well this week traders we have GDP on Thursday and Employment Cost Index on Friday, which are the only real numbers from our purview. Estimations from GS for GDPQ3 is for +2.4% and for the ECI +1.2%. We do feel that it is important for GDP to come in at or above expectations for the continued expansion of this current equity bottoming process here. However we know the real move will come on Nov 2nd with the FOMC decision where 75bp is currently baked in. We have been waiting for the US 10s/FF curve to invert and this will bring us one step closer…