The BEGOS Markets are returning to a more orderly condition post-election: at present above their respective Neutral Zones for today are the Bond, Euro, Swiss Franc and Copper; the balance of the bunch are within same, and volatility — after having been extremely robust — is now moderate. Yesterday, Gold’s “Baby Blues” confirmed settling below their key +80% axis, suggestive of further near-term selling from which (as you regular readers know) had been an ongoing near-term overvalued stance: indeed by Market Values, Gold (in real-time) is but +14 points “high” above its smooth valuation line, the penetration of which would also suggest further downside, all of which we’ll assess in Saturday’s Gold Update. As for other Market Values’ deviations: the bond shows as nearly -5 points “low”, the Euro -0.018 points, “low”, Oil basically “in-line”, and the Spoo +186 points “high”. The day’s incoming Econ Baro metrics include September’s Wholesale Inventories and Consumer Credit, plus the initial read on Q3 Productivity and Unit Labor Costs. And come 19;00 GMT, the FOMC releases its Policy Statement for which expectations are a -25bp FedFunds rate cut.