The softest of soft landings: Morning bid
S&P 500 futures and Nasdaq futures are ahead by 0.2% or so while the Nikkei is flat, having rallied almost 9% last week. Federal Reserve members Mary Daly and Austan Goolsbee were out over the weekend to flag the possibility of easing in September, while minutes due on Wednesday for the last policy meeting should underline the dovish outlook. Futures are 100% priced for a quarter-point cut, and 26% for 50 basis points, with much likely depending on whether the next U.S. payrolls report shows the bounce that many anticipate.