🇺🇸 Bond investors are tightening faster than the Fed, and the 10-year is at 5.22%
🇺🇸 Waller says Fed hikes need not come back to back, and claims under 200,000 give him cover
🇺🇸 The Fed hiked in September, and the data has already moved against it
🇺🇸 Tariffs promised a smaller deficit and calmer prices. This week's data broke both.
🇺🇸 September's jobs report was ugly, and a tariff cost spike is pulling the Fed the other way
🇺🇸 A 29,000-job September is the wrong story; the real one is GDP at 2.2%
🇺🇸 Fed's October bet turns on a speech, not Wednesday's cooler PCE
🇺🇸 Williams cracks the Fed's hawkish unanimity as consumer confidence hits an 11-year low
🇺🇸 Lisa Cook flips the AI-inflation script as home prices refuse to cool
🇺🇸 Washington's interest bill just crossed $1tn, and the bond market is sending the receipt
