Veterans Day on Monday, U.S markets will be closed, we should get more from the PolitBuros package of measures over the weekend too. BoE and FED as expected (might as well it was priced in..), German coalition collapse into the mix (snap election called in Germany Jan 2025) >>> Wild swings this week, as expected, vols softer, triggered yet more buying in eq, huge sector swings on the basis of the 47th President, huge promises were made, now the hard work behind the scenes start... (Ukraine, Iran, illegal immigrants, tax cuts, more spending, and bring inflation way down..not all of it will happen in a hurry, but we are guaranteed some wild times again with Donald 2.0
FOMC recap: The FOMC cut rates 25bp at its November meeting – in line with consensus and market pricing. Powell’s press conference did not offer clear forward guidance for December, Powell says he will not quit even if asked by Trump
BoE lowered the Bank Rate from 5.00% to 4.75% as expected. 8 of the 9 MPC members voted for the rate cut. But BoE stopped short of signaling faster easing, warning that the budget could drive up inflation by as much as half a percentage point
Republicans widen Senate majority (53), on track to win House
China will raise local governments’ debt ceiling to 35.52 trillion yuan, which will allow them to issue six trillion yuan in additional special bonds over three years to swap hidden debt, the Xinhua News Agency reported on Friday/More in Thread below, WSJ: "The ultimate answer for Beijing probably lies at home. A strong domestic economy is needed to replace export demand and keep capital profitably invested."
Trump will give Israel ‘blank check’ which may mean all-out war with Iran, says ex-CIA chief >> see also top two articles from yesterdays daily
Putin says Trump’s Ukraine proposals merit attention
Opposition parties have made calls for an immediate vote of confidence after Chancellor Scholz sacked Finance Minister Christian Lindner. Losing the vote would pave the way for snap elections
Powell on inflation: "So we're not declaring victory, but we feel like the story is very consistent within inflation continuing to come down on a bumpy path over the next couple of years and settling around 2%. That story is intact and it won't be one or two really good data months or bad data months aren't going to change the pattern at this point now that we're this far into the process." >>>>>>> and yet over the next 18mos or so, the US will likely get about 1% of Fed cuts and a big pro-growth fiscal policy boost from Trump 2.0, pumping an already hot economy >>> no landing, and risk of sustained inflation on high plateau
Good recap from SAXO : Morning Brew November 8 2024 | Saxo
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