[ul]
[li] The Fed is likely to cut the overnight rate in December on evidence the housing correction is affecting the broad economy[/li]
[li] The Spread between junk-rated corporate bonds and US Treasuries surged as investors became more risk averse[/li]
[li] U.S. stocks declined the most in two weeks led by Citigroup, Merrill Lynch and Morgan Stanley[/li] [/ul]
[I]Click here to join DailyFX Analysts in discussing the Watch What the Fed Watches latest report.[/I]
