Good morning contrarians!
Stock futures are flat as of 0640. The only movement is in small caps, with the Russell 2000 up about 0.2%. Bonds are being bought, with yields dropping. The 10-year is down to 1.53%. The 2-year down to 0.452%.
It’s all about the Federal Reserve today. The Federal Open Market Committee announces its decision about interest rates and bond purchases at 1400. The FOMC statement will be released at that time, with Fed chair Jerome Powell to hold a press conference afterwards.
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