The Day Ahead — October CPI Headlines a Busy Tuesday In US economic data, Tuesday brings us October CPI and NFIB small business optimism, plus the NY Fed’s Q3 Household Debt and Credit Report. Note that BLS won’t publish 12-month changes for most CPI indexes, including headline and core, since no October 2025 prices were collected during the shutdown. Fed speakers include Fed Governor Waller, Dallas Fed President Logan (2026 voter), Kansas City Fed President Schmid (2028 voter), Fed Vice Chair for Supervision Bowman and Philadelphia Fed President Paulson (2026 voter). Non-Bill (>1yr in maturity) US Treasury auctions bring us a $42B 10-year note sale at 1:00pm ET. One S&P 500 component reports: -Before the open: TransDigm ($TDG). Outside the S&P 500 a lot of focus will be on CoreWeave ($CRWV). We’ll also hear from Petrobras ($PBR), Sea ($SE), Vodafone ($VOD), Venture Global ($VG), and On Holding ($ONON). Ex-US highlights include China’s October trade balance, Japan’s October Economy Watchers survey and September household spending, and October CPI in Norway and Denmark. The Bank of Canada releases the Summary of Deliberations from its last meeting (1:30pm ET) and Brazil’s central bank its Copom minutes, while the ECB’s Cipollone, Lane and Escriva and the BoE’s Lombardelli and Pill speak. US-mediated talks between Russia and Ukraine are expected Tuesday and Wednesday.
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