"Fed Will Lower Rates Again Before January Trading History Shows" Says Bloomberg. Monday's Elizabeth Stanton article discusses two indicators pointing to lower rates -- 2-year Treasury note yields over 50 basis points below the Fed fund target and Fed funds futures. Futures currently predict at least two more 1/4-point reductions, though their record of accuracy is mixed at best. The piece says, "[T]raders have pushed the yield on Treasury two-year notes to almost three quarters of a point below the designated 4.75 percent funds rate. In the three previous occasions during the past 20 years when that has happened, policy makers have cut borrowing costs."