Wall Street Journal’s Nick Timiraos is out with a tweet saying:
- A very solid September payroll report probably takes a lot of the drama out of the November Fed meeting
- Likely leaves officials on course for a 25 basis point cut.
Looking at the probability of a 25 basis point cut, that is now at 99%, while remaining unchanged is that 1%.
At points last week, the intimate 50 basis point cut was upwards of 60% for November.