Tuesday's trade was choppy across all markets as the debt ceiling deadline moved from weeks to days and finally to hours. With the Thursday deadline approaching Fitch Ratings placed US Treasuries on Rating Watch Negative after the markets closed. Energies, metals and equities all suffered small losses under the uncertainty of what the kids will or won't do.
7:30 AM CT
CPI Forecast 0.1% Prior 0.1%
9:00 AM CT
NAHB Housing Market Index Forecast 57 Prior 58
1:00 PM CT
Today the markets have CPI and the Beige Book to look at. There are no surprises expected in the CPI number and the Beige Book report will have trouble making headlines while all eyes are focused on the kids. Today's talk could become a lot more heated as House Republicans prepare to self destruct. Everyone expects a deal to come down to the wire but if the House Republicans can't get it together the markets may not show much more patience. Traders will be reading between the headlines today to see what the prospects of a deal really are. Trade wisely