Poor Earnings and Lack of Liquidity Drive the Stock Market Lower. Will the Fed Cut?

Money Markets Liquidity Remains Tight with Short Term Rates Significantly Higher than the Fed Funds Target.
Credit Default Swaps Rise More than 8.5 percent On Concern Over the Future of the Credit Derivatives Market.
Retail Sales Upbeat, but Markets Unsure on Consumption Outlook.

Click here to join DailyFX Analysts in discussing the Watch What the Fed Watches latest report.

Written by Antonio Sousa and David Rodriguez, Currency Analysts for DailyFX.com