Fed speak week
- Markets continue to revel in the afterglow of the US employment report –the fact that markets reacted so strongly to ISM normalisation, and then reacted again to a good but not spectacular employment report is perhaps indicative of the degree of investor uncertainty.
- Fed speak is likely to dominate this week, starting with Fed president George today. Fed minutes are also due on Wednesday. With the FOMC perhaps more democratic in its decision making than in the past, the range of views matters.
- Asian markets have taken some comfort from talks between protestors and government officials in Hong Kong. Our Hong Kong team see the economic impact as being focused on temporary disruption to retail, for now.
- Brazil's first round of the presidential election race saw the incumbent Rousseff top the poll. The run-off vote is in three weeks. In the Euro area there is little data to distract, but the currency may be something of a focus.
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