Busy Week Ahead for Rate Markets Eyeing Major Economic Releases🤝
The rates market's focus will shift to a busy calendar this week, with ADP, JOLTS, ISM, FOMC, and NFP all on the horizon. While the Fed is pretty much guaranteed to keep rates on hold this meeting, an unfriendly combination of an expected strong jobs report could bring the December meeting back into play, which is currently pricing in less than 20% of another rate hike. However, as a caveat, the UAW strikes will create substantial noise around the BLS figures, where the agency is reporting that a fresh 30k of autoworkers would have temporarily dropped off payrolls for this month.
