It has been a big week for stocks, with Treasury rates at their highest mark since 2002. There are two events that will massively impact Treasury rates. First, on today at 8:30 AM ET, the Fed’s favorite measurement for inflation is released. The market expects a slight downtick from last month, though that doesn’t feel right out there. If it comes in higher than expectations, Treasury rates will rise, and the current 70% likelihood of a Fed rate hike in October will skyrocket. Second, the biggie the September jobs report on Friday at 8:30 AM. Last month, we added a shockingly high number of jobs. If that happens again, it will be good news for the economy but bad news for the stock market. It will press Treasury rates higher and lock in the October rate hike. With this week’s data, next month’s decision by the Fed should be nearly locked in.