The first week in the month is always a crucial one for economic data and the market is finding plenty to like so far. Job growth is still happening, but at a slower pace, activity in the mighty U.S. services sector is expanding, but modestly. The oil price is down, taking more heat out of the inflation picture, but not so much that the world's major producers have expressed alarm about the demand outlook. The past few weeks have witnessed a dramatic shift in expectations for Federal Reserve monetary policy, from a "higher for longer" scenario to one of "lower, more quickly". Futures are pricing in a whopping 130 ... (full story)