‘Tis the final full trading day of the week for physical StateSide bourses; the BEGOS Markets via GLOBEX have abbreviated (save for the EuroCurrencies) sessions tomorrow, but all for Monday settlement. As anticipated, the FOMC voted (indeed unanimously) to maintain the FedFunds rate in the 3.50%-3.75% target range via a radically-revised and shortened Policy Statement; our sense for the moment remains the Fed shall pull the trigger come the 29 July Statement, especially should next week’s reporting of the “Fed-favoured” PCE Index for May continue above target. At present, six of the eight BEGOS Markets are above today’s Neutral Zones, Copper being within and Oil below same; session volatility is moderate. Looking at the 21-day linregs (see Market Trends) for all the BEGOS components, six of the eight are moderately negative, the two exceptions being Copper and the Spoo, both mildly positive. We’ve not ruled out the S&P 500 resuming what can be a -10% correction into the 6800s given a Fed rate increase(s) in the inevitable balance. Incoming metrics to close out the Econ Baro’s week include June’s Philly Fed Index and May’s Leading (i.e. “lagging”) Indicators.