Market Update

This week’s economic calendar features several reports that have the potential to move the market. But the big report for the week will be Wednesday's release of the Consumer Price Index. This read on consumer inflation could influence whether the Fed will again cut the Fed Funds Rate at their upcoming October 31st meeting. For the moment, the Bond price has drifted below the 50-day Moving Average. However, close underlying support could help prices improve, so we want to be patient. I recommend cautiously floating at this time.