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  • The event calendar is something of an economic desert, with only comments from Fed President Plosser blowing around like tumbleweed in an otherwise barren landscape. This means investors will probably focus on trivia.
  • Chinese President Xi stated the obvious and said China would have to get used to a new, lower, normal pace of economic growth (demographics alone makes this almost certain).
  • European markets are likely to continue to consider future ECB action, although Draghi's burlesque show as explicit as moral decency would allow. Ukrainian events may occupy some attention, with talk of sanctions against some Russian companies.
  • Fed President Fisher indicated on Friday that he would continue to support a USD10bn per month reduction in quantitative policy - which is no surprise. He also advocated appointing a banker to one of the many vacancies on the Fed.

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