Next week there is no FOMC. Inventory reports and more speakers come instead. The calendar stays the risk plan, even without a meeting.
Without a decision the risk does not leave. It stays in the front end, in the prompt contract, and in the four names whose guidance is still out. A book that waits only for a meeting is waiting for the wrong event.
The note closes the week as a tape, not as a program. Delayed, and not a solicitation.
What the desk is watching
- No FOMC next week
- Inventories and speakers remain
- The calendar stays the risk plan