Morning Note · Markets No. 06 · Oct. 26, 2026 · Read the issue

The record for this issue

Oil takes the 10-year back to 5%.

92 claims in the draft, each tested by a second agent against the page it cites, on Oct. 26, 2026. 87 held; 5 did not and were fixed or cut before this went out.

87 confirmed 0 wrong, fixed or cut 5 unsupported, fixed or cut
  1. 01
    title

    10-year back to 5%

    The page says “10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  2. 02
    dek

    Brent settled at $116.72 on Friday

    The page says “Brent's December contract settled at $116.72 after rising 3.1% on the day (published Fri Oct 23, 2026, 4:06 PM)”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  3. 03
    dek

    Treasury yields gave back part of Thursday's drop; 10-year closed at 5.00%

    The page says “10/21/2026 row: 2 Yr 4.81, 5 Yr 4.95, 10 Yr 5.13, 30 Yr 5.42; 10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  4. 04
    dek

    Inside the 5-year, the inflation part of the yield rose for a second day

    The page says “Nominal 5Y 4.95/4.78/4.82 minus real 5Y 2.55/2.33/2.34 = 2.40/2.45/2.48 (Oct 21/22/23)”

    home.treasury.gov, at the passage · whole page

    confirmed
  5. 05
    dek

    The Fed meets Tuesday and Wednesday

    The page says “'October 27-28'”

    Federal Reserve (FOMC calendar)

    confirmed
  6. 06
    summary

    10-year closed Friday at 5.00%, up 4 bp; Brent settled at $116.72

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33; Rigzone: Brent settled at $116.72”

    U.S. Treasury, at the passage · whole page

    confirmed
  7. 07
    summary

    Fed, Bank of Canada, ECB and Bank of Japan meet this week

    The page says “Fed 'October 27-28'; BoC Oct 28 'Interest Rate Announcement' 09:45 ET; ECB 28/10 and 29/10/2026 monetary policy meeting; BoJ 'Oct. 29 (Thurs.), 30 (Fri.)'”

    Federal Reserve (FOMC calendar), at the passage · whole page

    confirmed
  8. 08
    The story

    10-year closed Friday at 5.00% from 4.96% Thursday on Treasury's 3:30 p.m. par curve

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33; 'obtained by the Federal Reserve Bank of New York at or near 3:30 PM…”

    U.S. Treasury, at the passage · whole page

    confirmed
  9. 09
    The story

    2-year rose to 4.69% from 4.65%

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  10. 10
    The story

    30-year rose to 5.33% from 5.29%

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  11. 11
    The story

    2-, 5-, 10- and 30-year each rose 4 bp

    The page says “4.65->4.69, 4.78->4.82, 4.96->5.00, 5.29->5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  12. 12
    The story

    2s10s spread held at 31

    The page says “4.96-4.65=0.31; 5.00-4.69=0.31”

    U.S. Treasury

    confirmed
  13. 13
    The story

    3-month bill unchanged at 4.22%

    The page says “3 Mo 4.22 on both 10/22 and 10/23”

    U.S. Treasury, at the passage · whole page

    confirmed
  14. 14
    The story

    10-year took back about a quarter of Thursday's 17 bp fall

    The page says “10/21/2026 row: 2 Yr 4.81, 5 Yr 4.95, 10 Yr 5.13, 30 Yr 5.42; 10 Yr 5.13->4.96 = -17 bp; +4 bp Friday = 24%”

    U.S. Treasury, at the passage · whole page

    confirmed
  15. 15
    The story

    December Brent settled at $116.72, up 3.1% on the day

    The page says “Brent's December contract settled at $116.72 after rising 3.1% on the day”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  16. 16
    The story

    Brent up more than 6% on the week

    The page says “'more than 6% this week'”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  17. 17
    The story

    WTI settled at $103.27, up 3.8% (Bloomberg)

    The page says “WTI's December contract settled at $103.27 after climbing 3.8%”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  18. 18
    The story

    Houthi claims of attacks on the Saudi Red Sea port of Yanbu

    The page says “Iran-backed Houthis 'claimed recent attacks on the Saudi Red Sea port of Yanbu'”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  19. 19
    The story

    U.S.-Iran war nearing its ninth month

    The page says “'the US-Iran war, which is now approaching its ninth month'”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  20. 20
    The story

    traders unwilling to stay short over the weekend

    The page says “traders were 'reluctant to hold short positions ahead of the weekend, when markets are closed'”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  21. 21
    The story

    Dow lost 1.2% (AP)

    The page says “'The Dow Jones Industrial Average fell 1.2 per cent'”

    AP via BNN Bloomberg, at the passage · whole page

    confirmed
  22. 22
    The story

    S&P 500 fell 0.5% to 7,623.68

    The page says “'The S&P 500 fell 0.5 per cent'; closed at 7,623.68 after losing 39.75 points”

    AP via BNN Bloomberg, at the passage · whole page

    confirmed
  23. 23
    The story

    S&P 500's second weekly loss in a row

    The page says “'The index posted its second-straight weekly loss.'”

    AP via BNN Bloomberg, at the passage · whole page

    confirmed
  24. 24
    The story

    5-year nominal yield rose 4 bp to 4.82%

    The page says “5 Yr 4.78 (10/22) -> 4.82 (10/23)”

    U.S. Treasury, at the passage · whole page

    confirmed
  25. 25
    The story

    5-year TIPS real yield rose 1 bp to 2.34%

    The page says “5 YR 2.33 (10/22) -> 2.34 (10/23)”

    U.S. Treasury (real yields), at the passage · whole page

    confirmed
  26. 26
    The story

    5-year breakeven widened to 2.48% from 2.45%

    The page says “4.82-2.34=2.48; 4.78-2.33=2.45 (issue's arithmetic, stated as such in numbers note)”

    home.treasury.gov, at the passage · whole page

    confirmed
  27. 27
    The story

    On Thursday the nominal 5-year fell 17 bp

    The page says “5 Yr 4.95 (10/21) -> 4.78 (10/22)”

    U.S. Treasury, at the passage · whole page

    confirmed
  28. 28
    The story

    Thursday's breakeven rose from 2.40%

    The page says “10/21: 4.95-2.55=2.40 -> 10/22: 2.45”

    home.treasury.gov, at the passage · whole page

    confirmed
  29. 29
    The story

    Fed meeting on Oct. 27-28

    The page says “'October 27-28'”

    Federal Reserve (FOMC calendar)

    confirmed
  30. 30
    The story

    Target range 3.75%-4.00% since a quarter-point increase on Sept. 17

    The page says “2026 row: 'September 17 | 25 | 0 | 3.75-4.00'”

    Federal Reserve (target range), at the passage · whole page

    confirmed
  31. 31
    The story

    Effective rate printed 3.88% on Thursday

    The page says “effectiveDate 2026-10-22 percentRate 3.88 targetRateFrom 3.75 targetRateTo 4.00”

    New York Fed, at the passage · whole page

    confirmed
  32. 32
    The story

    2-year at 4.69% sits 69 bp above the top of the range

    The page says “4.69 - 4.00 = 0.69”

    home.treasury.gov, at the passage · whole page

    confirmed
  33. 33
    The story

    AP: Wall Street expects a hold this week and leans heavily toward another increase in December

    The page says “'Wall Street expects the central bank to hold rates steady at its meeting next week' and 'is leaning heavily toward another rate hike in December'”

    AP via BNN Bloomberg, at the passage · whole page

    confirmed
  34. 34
    The story

    This meeting carries no new economic projections

    The page says “'October 27-28' has no asterisk; asterisk = 'Meeting associated with a Summary of Economic Projections'”

    Federal Reserve (FOMC calendar), at the passage · whole page

    confirmed
  35. 35
    The story

    Blackout runs until the day after the meeting ends

    The page says “'end at 11:59 p.m. Eastern Time the day after a meeting'”

    Federal Reserve (blackout rule), at the passage · whole page

    confirmed
  36. 36
    The story

    Nikkei 225 down 0.8% at 62,189.65

    The page says “'Tokyo's Nikkei 225 slipped 0.8% to 62,189.65.'”

    AP via WSLS, at the passage · whole page

    confirmed
  37. 37
    The story

    Nikkei 'closed' (i.e., the figure is the Tokyo close)

    AP via WSLS

    unsupported
  38. 38
    The story

    Kospi fell 1.5%

    The page says “'The Kospi in Seoul dropped 1.5% to 5,469.47.'”

    AP via WSLS, at the passage · whole page

    confirmed
  39. 39
    The story

    AP's 3:46 a.m. update

    The page says “'Updated: October 26, 2026 at 3:46 AM' (modified_time 2026-10-26T07:46:58Z)”

    AP via WSLS, at the passage · whole page

    confirmed
  40. 40
    The story

    U.S. crude down 1.8% at $101.37

    The page says “'U.S. benchmark crude sank 1.8% to $101.37 a barrel.'”

    AP via WSLS, at the passage · whole page

    confirmed
  41. 41
    The story

    Brent down 1.4%

    The page says “'Brent crude... fell 1.4% to $110.12 a barrel.'”

    AP via WSLS

    confirmed
  42. 42
    The story

    U.S. stock futures edging higher

    The page says “'U.S. futures edged higher.'”

    AP via WSLS, at the passage · whole page

    confirmed
  43. 43
    The story

    Treasury sells 2-year notes today

    The page says “'2-Year NOTE Thursday, October 22, 2026 Monday, October 26, 2026 Monday, November 02, 2026'”

    Treasury (auction schedule), at the passage · whole page

    confirmed
  44. 44
    The story

    First of three note auctions this week

    The page says “2-Year NOTE Mon Oct 26; 5-Year NOTE Tue Oct 27; 7-Year NOTE Thu Oct 29 (a 2-Year FRN also auctions Wed Oct 28, listed under 'Other securities')”

    Treasury (auction schedule), at the passage · whole page

    confirmed
  45. 45
    The story

    September PCE on Thursday

    The page says “'October 29 8:30 AM' | 'Personal Income and Outlays, September 2026'”

    BEA, at the passage · whole page

    confirmed
  46. 46
    The story

    AP said PCE expected near 3.7%

    The page says “PCE index 'is expected to show that inflation rose at a 3.7 per cent rate in September'”

    AP via BNN Bloomberg, at the passage · whole page

    confirmed
  47. 47
    The story

    Oct. 22: 3-month 4.22, 2-year 4.65, 5-year 4.78, 10-year 4.96, 30-year 5.29

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29”

    U.S. Treasury, at the passage · whole page

    confirmed
  48. 48
    The story

    Oct. 23: 3-month 4.22, 2-year 4.69, 5-year 4.82, 10-year 5.00, 30-year 5.33

    The page says “10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  49. 49
    The story

    Par yields at 3:30 p.m. ET, Oct. 22 and Oct. 23

    The page says “'obtained by the Federal Reserve Bank of New York at or near 3:30 PM each trading day.'”

    U.S. Treasury, at the passage · whole page

    confirmed
  50. 50
    The story

    Bill held; 2-year through 30-year each rose 4 bp

    The page says “3 Mo 4.22 both days; 2/5/10/30 Yr each +0.04”

    U.S. Treasury, at the passage · whole page

    confirmed
  51. 51
    The story

    A Treasury yield's real part is what TIPS show

    The page says “'Par real yields on Treasury Inflation Protected Securities (TIPS) at "constant maturity" are interpolated'”

    U.S. Treasury (real yields), at the passage · whole page

    confirmed
  52. 52
    The story

    The rest is the breakeven, the inflation the market prices in; oil feeds the second part

    U.S. Treasury (real yields)

    unsupported
  53. 53
    The story

    Nominal 5-year: Oct 21 4.95, Oct 22 4.78, Oct 23 4.82

    The page says “5 Yr: 4.95, 4.78, 4.82”

    U.S. Treasury, at the passage · whole page

    confirmed
  54. 54
    The story

    Real 5-year: 2.55, 2.33, 2.34

    The page says “Real 5 YR: 10/21 2.55, 10/22 2.33, 10/23 2.34”

    U.S. Treasury (real yields), at the passage · whole page

    confirmed
  55. 55
    The story

    Breakeven: 2.40, 2.45, 2.48

    The page says “4.95-2.55=2.40; 4.78-2.33=2.45; 4.82-2.34=2.48”

    home.treasury.gov, at the passage · whole page

    confirmed
  56. 56
    The story

    Nominal and TIPS real par yields at 3:30 p.m. ET; breakeven is nominal minus real

    The page says “'obtained by the Federal Reserve Bank of New York at or near 3:30 PM each trading day.'”

    U.S. Treasury, at the passage · whole page

    confirmed
  57. 57
    The story

    Nominal and real fell Thursday and rose Friday; breakeven rose both days

    The page says “Nominal 4.95->4.78->4.82; real 2.55->2.33->2.34; breakeven 2.40->2.45->2.48”

    home.treasury.gov, at the passage · whole page

    confirmed
  58. 58
    The tape before the open, item 1

    2-year 4.69%, +4 bp, 3:30 p.m. ET Oct. 23

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33; 'obtained by the Federal Reserve Bank of New York at or near 3:30 PM…”

    U.S. Treasury, at the passage · whole page

    confirmed
  59. 59
    The tape before the open, item 2

    10-year 5.00%, +4 bp, 3:30 p.m. ET Oct. 23

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  60. 60
    The tape before the open, item 3

    30-year 5.33%, +4 bp, 3:30 p.m. ET Oct. 23

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  61. 61
    The tape before the open, item 4

    2s10s 31 bp, 0 bp change

    The page says “5.00-4.69=31 bp; 4.96-4.65=31 bp”

    U.S. Treasury, at the passage · whole page

    confirmed
  62. 62
    The tape before the open, item 5

    5-year breakeven 2.48%, +3 bp

    The page says “4.82-2.34=2.48; prior 4.78-2.33=2.45”

    home.treasury.gov, at the passage · whole page

    confirmed
  63. 63
    The tape before the open, item 6

    Fed funds effective 3.88%, 0 bp, Oct. 22

    The page says “2026-10-22 3.88; 2026-10-21 3.88”

    New York Fed, at the passage · whole page

    confirmed
  64. 64
    The tape before the open, item 7

    EUR/USD (ECB) 1.1193, -0.0012, ECB reference rate Oct. 23

    The page says “23 October 2026: 1.1193; 22 October 2026: 1.1205”

    ECB, at the passage · whole page

    confirmed
  65. 65
    The tape before the open, item 8

    Brent (Dec.) $116.72, +3.1%, settlement Oct. 23

    The page says “Brent's December contract settled at $116.72 after rising 3.1% on the day”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  66. 66
    The tape before the open, item 9

    WTI (Dec.) $103.27, +3.8%, settlement Oct. 23

    The page says “WTI's December contract settled at $103.27 after climbing 3.8%”

    Bloomberg via Rigzone, at the passage · whole page

    confirmed
  67. 67
    The tape before the open, item 10

    Nikkei 225 62,189.65, -0.8%, as_of 'Tokyo close, Oct. 26'

    AP via WSLS

    unsupported
  68. 68
    The tape before the open

    Fed funds is Thursday's rate

    The page says “latest record in the cited range: effectiveDate 2026-10-22, 3.88”

    New York Fed, at the passage · whole page

    confirmed
  69. 69
    The tape before the open

    The Nikkei row is Monday's Tokyo close, 2:30 a.m. ET

    AP via WSLS

    unsupported
  70. 70
    The morning in four, item 1

    2-, 5-, 10-, 30-year each rose 4 bp; 3-month bill did not move

    The page says “10/22/2026 row: 3 Mo 4.22, 2 Yr 4.65, 5 Yr 4.78, 10 Yr 4.96, 30 Yr 5.29; 10/23/2026 row: 3 Mo 4.22, 2 Yr 4.69, 5 Yr 4.82, 10 Yr 5.00, 30 Yr 5.33”

    U.S. Treasury, at the passage · whole page

    confirmed
  71. 71
    The morning in four, item 2

    Freddie Mac 30-year fixed 7.32% on Oct. 22, from 7.40% a week earlier

    The page says “'The 30-year fixed-rate mortgage averaged 7.32% as of October 22, 2026, down from last week when it averaged 7.40%.'”

    Freddie Mac, at the passage · whole page

    confirmed
  72. 72
    The morning in four, item 2

    The survey came out before Friday's rise in yields

    The page says “Rates labelled 'as of 10/22/2026' (Thursday), before the Oct. 23 yield rise”

    Freddie Mac, at the passage · whole page

    confirmed
  73. 73
    The morning in four, item 3

    BEA publishes Q3 GDP and September personal income and outlays at 8:30 a.m. Oct. 29

    The page says “'October 29 8:30 AM' 'GDP (Advance Estimate), 3rd Quarter 2026'; 'Personal Income and Outlays, September 2026'”

    BEA, at the passage · whole page

    confirmed
  74. 74
    The morning in four, item 3

    AP said PCE price index expected to show 3.7% rate

    The page says “'is expected to show that inflation rose at a 3.7 per cent rate in September'”

    AP via BNN Bloomberg, at the passage · whole page

    confirmed
  75. 75
    The morning in four, item 4

    Bank of Canada decides Wednesday at 9:45 a.m.

    The page says “October 28, 2026: 'Interest Rate Announcement and Monetary Policy Report' at '09:45 (ET)'”

    Bank of Canada, at the passage · whole page

    confirmed
  76. 76
    The morning in four, item 4

    Market odds near 78% on Friday, per The Canadian Press citing LSEG

    The page says “'Financial market odds for a rate hike stood at nearly 78 per cent as of Friday afternoon, according to LSEG Data & Analytics.' (published 2026-10-26T08:00Z = 4:00 a.m. ET)”

    Canadian Press via BOE Report, at the passage · whole page

    confirmed
  77. 77
    The morning in four, item 4

    The 78% odds are for a quarter-point increase

    Canadian Press via BOE Report

    unsupported
  78. 78
    The morning in four, item 4

    Policy rate currently 2.25%

    The page says “'The Bank of Canada has held its policy rate at 2.25 per cent for seven consecutive meetings.'”

    Canadian Press via BOE Report, at the passage · whole page

    confirmed
  79. 79
    What to watch, item 1

    13- and 26-week bills and 2-year note auction today (Mon Oct 26)

    The page says “13-Week BILL, 26-Week BILL, 2-Year NOTE: auction Monday, October 26, 2026”

    Treasury (auction schedule), at the passage · whole page

    confirmed
  80. 80
    What to watch, item 1

    2-year settles Nov. 2

    The page says “2-Year NOTE ... settlement 'Monday, November 02, 2026'”

    Treasury (auction schedule)

    confirmed
  81. 81
    What to watch, item 1

    5-year Tuesday, 7-year Thursday

    The page says “5-Year NOTE auction Tuesday, October 27; 7-Year NOTE auction Thursday, October 29”

    Treasury (auction schedule), at the passage · whole page

    confirmed
  82. 82
    What to watch, item 2

    October TMOS Monday at 9:30 a.m. Central (10:30 a.m. ET)

    The page says “October release 'Monday, October 26'; 'Release (9:30 a.m. CT)'”

    Dallas Fed, at the passage · whole page

    confirmed
  83. 83
    What to watch, item 3

    No BLS release Monday

    The page says “Calendar cells for Oct 26 and Oct 27 empty”

    BLS, at the passage · whole page

    confirmed
  84. 84
    What to watch, item 3

    No BEA release Monday

    The page says “No release listed for Monday, October 26; next releases October 29”

    BEA, at the passage · whole page

    confirmed
  85. 85
    What to watch, item 3

    No Census release Monday

    The page says “No indicator releases scheduled October 26, 2026”

    Census Bureau, at the passage · whole page

    confirmed
  86. 86
    What to watch, item 3

    Census has durable goods and new home sales on Tuesday

    The page says “Oct 27: 'Advance Report on Durable Goods...' 8:30 AM; 'New Residential Sales' 10:00 AM”

    Census Bureau, at the passage · whole page

    confirmed
  87. 87
    What to watch, item 4

    FOMC meets Tuesday and Wednesday

    The page says “'October 27-28'”

    Federal Reserve (FOMC calendar)

    confirmed
  88. 88
    What to watch, item 4

    Bank of Canada announces Wednesday

    The page says “October 28, 2026 Interest Rate Announcement”

    Bank of Canada, at the passage · whole page

    confirmed
  89. 89
    What to watch, item 4

    ECB meets Wednesday and Thursday

    The page says “28/10/2026 monetary policy meeting (Day 1); 29/10/2026 (Day 2), followed by press conference”

    ECB (meeting calendar), at the passage · whole page

    confirmed
  90. 90
    What to watch, item 4

    Bank of Japan meets Thursday and Friday

    The page says “'Oct. 29 (Thurs.), 30 (Fri.)'”

    Bank of Japan, at the passage · whole page

    confirmed
  91. 91
    What to watch, item 5

    Blackout until the day after the Oct. 27-28 meeting

    The page says “'end at 11:59 p.m. Eastern Time the day after a meeting'”

    Federal Reserve (blackout rule), at the passage · whole page

    confirmed
  92. 92
    What to watch, item 5

    Blackout began Oct. 17

    The page says “'begin at 12:00 a.m. Eastern Time the second Saturday before a meeting'; meeting Tue Oct 27 -> second Saturday before = Oct 17”

    federalreserve.gov, at the passage · whole page

    confirmed

The checker's notes

  • No fact in the draft post-dates 4:30 a.m. ET Oct. 26: latest sources are AP via WSLS (updated 3:46 a.m. ET) and Canadian Press via BOE Report (4:00 a.m. ET); ECB page lists Oct. 26 with no rate yet.
  • No political opinion found; the U.S.-Iran war and Houthi claims are reported as events with Bloomberg attribution. No conduct issues: the closing conditional outlook in paragraph 5 is impersonal analysis, which docs/COMPLIANCE.md allows on the Markets desk.
  • For the editor: the AP put the Friday 10-year at 4.99% (late trading) vs Treasury's 5.00% 3:30 p.m. par value; the draft correctly cites Treasury.
  • The Fed's FOMC calendar lists the September meeting as Sept. 15-16; the open-market table dates the increase Sept. 17 (effective date). The draft matches the cited page.
  • The 2-year FRN auction (Wed Oct 28) is not counted among the 'three note auctions'; defensible because the schedule lists it under 'Other securities'.

Content from the New York Fed: © 2026 Federal Reserve Bank of New York, subject to the Terms of Use at newyorkfed.org.

Data from the Bank of Canada, used under its terms of use.

Source: European Central Bank.

Source: Bank of Japan.

Mortgage rates: Freddie Mac Primary Mortgage Market Survey.

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