Morning all.. Wall St’s winning run came to an end last night after an attempt to break higher again in the S&P failed close to 20120. The sell-off seeing it close 0.68% lower. Daniel Tarullo becomes second Fed governor to challenge Janet Yellen’s vision of when to raise interest rates. Tarullo said in a CNBC interview on Tuesday that he now sees it as not appropriate to raise rates this year, joining governor Lael Brainard in favouring a wait-and-see approach. Mr Tarullo suggested the Fed should wait for “tangible evidence” of a pick-up in inflation before moving amid a global disinflationary environment, FT reported.. China data again weighed on Asian stocks with Nikkei down 2% and HK down 0.67% at last look. China’s headline CPI inflation moderated to 1.6 % yoy in September, against Bloomberg consensus of 1.7% and its prior of 2.0% yoy. Many expect headline inflation to fluctuate between 1.5% to 1.7% in the coming months, with the recent small upswing likely to have come to an end. AUD fell on this and at one point broke .7200 albeit briefly. Kiwi fared better after the CB governor spoke. Wheeler acknowledged that recent economic indicators have been more encouraging in his speech in Auckland. He reiterated that some further easing in the OCR seems likely but this will continue to depend on the emerging flow of economic data. Importantly, RBNZ remains “conscious of the impact that low interest rates can have on housing demand and its potential to feed into higher price inflation. It is also important to consider whether borrowing costs are constraining investment, and the need to have sufficient capacity to cut interest rates if the global economy slows significantly.” Oil is slightly higher and S&P futures are marginally higher. This morning we get Spanish CPI data and UK unemployment data with EU IP. Good luck.