Forecasts and stock tips
- The US Federal Reserve meeting is expected to cut another USD10bn from the bond buying program (tapering is pretty much on automatic pilot). The statement is unlikely to differ much from Yellen's recent Congressional testimony, but we will get FOMC member economic forecasts.
- China has been getting annoyed at foreign reporting of its bond defaults - it considers the reporting to be exaggerating the severity of the situation (they have a point, but getting upset about it probably only draws attention to the issue).
- In an unusual step, the US White House has turned equity strategist and advised investors to sell Russian stocks. No word yet as to whether President Obama will offer recommendations on other asset classes. The G7 is promising to meet at some point to talk about escalating sanctions.
- UK labour market data is due, with the possibility that smaller companies favour hiring over capital spending (in a relative sense) as an unusual feature of the current recovery. The Bank of England minutes and Agents' Survey anecdotes also make an appearance.
Listen to the audio version of this briefing.