It has been a fairly quiet start to “rate cut week” after “inflation week” turned in the best weekly performance for SPX all year, which reversed the worst weekly performance of the year from “jobs week” the week before.
And, as Goldman writes in its mid-day wrap, most are sitting on their hands ahead of Wednedsday's and digesting the various arguments for 25 vs 50 (see here) as market volumes are down -11% and on track for first sub-10 billion session since Aug 27.
