What's coming up


The US calendar leads off today at the bottom of the hour with September durable goods orders, trade balance and wholesale inventories. Given the state of the market, I wouldn't expect those to be market movers but they're going to feed into Q4 forecasts and beyond.

The main event today comes at 10 am ET (1400 GMT), when the Bank of Canada decision is released. It's accompanied by new forecasts today and a press conference. The main question is whether they taper to $1B/week from $2B/week or zero it out. Managing market expectations for four hikes next year is also key.

I spoke with Reuters about the decision.

Other events to watch are weekly US oil inventories and a 5-year Treasury auction. For more, see the economic calendar.