In an average year, the only way for the stock market would be up now

Records since 1950 indicate that the S&P 500 typically hits its lowest point on October 27.

The U.S. Treasury disclosed its projected borrowing for Q3 ($776 billion) and Q4 ($816 billion) at 3:00 p.m. on Monday. The reaction in the bond market was subdued, indicating that a yield of around 5.00% might be sufficient to entice investors. This comes despite the Treasury's anticipation of requiring $1.6 trillion in the upcoming half year.

In Q3, th…