Today was a big turnaround day due to John Williams' comments

CME FedWatch tool moved from 27% to 73% chance of December rate cut after Williams spoke

Williams sees room for rate cut in near term, thinks Fed funds rate is moderately restrictive and needs to come closer to neutral

Markets firmed up as risk-off trade dissipated due to Williams' clarity

More dovish Fed speakers scheduled today including Michelle Bowman, Christopher Waller, and Philip Jefferson