ISM Manuf. Index (Oct.) & Personal Income (Sep.)

The rebound in the ISM manufacturing index in October will not prevent the Fed from announcing more quantitative easing (QE) on Wednesday. September's personal spending and income data show that spending growth has slowed and that incomes have fallen. Nonetheless, the stronger ISM makes it more likely that the Fed will limit its additional asset purchases to $500bn, and it might still aim lower.

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