Data Disturbances

While markets were calm today, the rest of the week, maybe not. Tomorrow, the Fed’s favorite inflation measure (core personal consumption expenditure inflation) comes out, on Wednesday the Fed probably announces a quarter-point cut in rates (first time since 2008); on Friday, July job growth is announced. All are temporally profoundly important data points at this economic juncture and will move markets if they are different than what is expected.