75 basis point rate hike is still on tap for 11/2/2022. PPI gives no relief.
The PPI (producer price index) was just released–generally speaking the various actuals matched forecasts, although the PPI final demand was double forecast (.4% versus .2% forecast).
Equities have fallen off their early gains to now be flat, while the 10 year treasury barely budged and standing at 3.96%, waiting for the all important CPI (consumer price index) tomorrow.
At 1 pm (central) we have the release of the FOMC minutes for last months meeting and while this is very old news markets probably will react. Additionally we will have 3 Fed folks speaking today–it is expected they will all have a hawkish tone.
I plan no activity today–just waiting and watching.