Fed slowdown. Most Federal Reserve officials believe the central banks should slow the pace of interest rate hikes, minutes from its latest gathering earlier this month showed. The minutes, released Wednesday, support expectations the Fed will raise rates by 50 basis points in December, ending a run of jumbo 75 basis point increases. Stocks rallied and the dollar fell toward a three-month low on the news.
Mon Nov 21 US Supreme Court releases an order list. | Tue Nov 22 OECD publishes latest Economic Outlook. | Wed Nov 23 FOMC meeting minutes. | Thu Nov 24 Thanksgiving Day in US. Stock, bond markets closed. EU energy ministers meet. | Fri Nov 25 US stock, bond markets close early. Black Friday sales day. Markets will seek clues on the pace of US interest-rate hikes as the Federal Reserve releases minutes of its November meeting, where officials tightened policy by 75 basis points for the fourth time in a row. Central banks in Israel, New Zealand, South Africa, South Korea, Sri Lanka, Sweden, and Turkey are among those setting monetary policy. Closely watched Purchasing Managers’ Index survey data for Europe’s biggest economies are released. US stock and bond markets are closed on Thursday as Americans celebrate Thanksgiving. That’s followed by Black Friday, the traditional start to the US holiday shopping season.
Pain point. Asian stock markets looked poised for a cautious open as Federal Reserve officials warned of more pain to come as they raise interest rates to fight inflation. Equity futures indicated tepid moves as trading starts in Australia and Japan after the S&P 500 and the tech-heavy Nasdaq 100 declined for the second straight session. Contracts for Hong Kong were higher after a gauge of US-listed Chinese shares notched its fifth gain in six days as investors react to more market-friendly policy signals from Beijing.
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