Following retail sales and PPI data the cuts to GDP are coming thick and fast
– BAML cuts its Q3 GDP tracker to 1.3% from 1.7%
– BNP cut theirs to 2.3% from 2.5%
For interest rates, Fed funds futures now price a rate hike chance at 6% for the Oct FOMC, down from 8%. Dec is now a 30.4% chance vs 39.3% yesterday