Overview
- The Federal Reserve lowered its policy rate by 25 basis points and said balance‑sheet runoff will stop in December.
- Chair Jerome Powell emphasized that a December move is not assured, while Lisa Cook flagged greater downside risk to jobs, Mary Daly urged keeping an open mind, and Austan Goolsbee voiced more concern about inflation.
- U.S. stocks rallied to records, with the S&P 500 and Nasdaq at new highs and one mega‑cap technology company topping $5 trillion in market value.
- Analysts highlight a 10‑year Treasury yield near 4% with 4.25% watched as a potential trigger for concurrent gains across commodities, emerging markets and U.S. equities.
- Latin American markets advanced with Argentina out front after Javier Milei’s election, and economists forecast a 25 bp cut by Banco de México on November 6 that would bring the nominal rate near a neutral threshold.