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What a weekend awaits

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  • Germany's elections allow markets to avert their eyes from the Fed bond buying debacle. While there is little substantive difference between the main parties on the matter of Europe, support for the anti-Euro AfD group may unduly influence international expectations about German policy.
  • With uncertainty about the Fed's policy, and President Obama's authority perhaps undermined, the US administration may feel it best to announce a nominee to replace Bernanke "sooner rather than later". If so, leaks may start to appear over the weekend, in accordance with standard protocol.
  • Four US Fed speakers hit the wires today, including the hawkish dissenter George and the irrepressibly dovish Kocherlakota. Europe is offering flash consumer confidence data, and the UK has public sector borrowing numbers.
  • Today sees potentially the most momentous economic event of the year: "Food Policy and the Environmental Credit Crunch From Soup to Nuts" by Julie Hudson and Paul Donovan is published today. An ideal gift for friends and family, available from all good booksellers.

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