CPI

Global Stocks Mixed After "Nightmare Victory" For Merkel; Chinese Property Developers Crash

European stocks rose as the euro tumbled following Germany’s election result which was dubbed a "Nightmare Victory" for Merkel and could lead to complicated coalition talks. U.S. equity-index futures point to a lower open, while Asian equities slide after a plunge in Chinese property developer names as well as tech stocks following more iPhone delivery concerns. S&P500 futures are steady. 

FX Week Ahead: Market In Need Of Brain-Changer, Not Game-Changer

After the FOMC meeting last week, it was (yet) again apparent that the Fed are still keen to maintain a normalisation path designed to not only get rates back to neutral levels, but also build up the policy tool kit again as well as staving off excessive leverage which has boosted stock markets to record highs. 

Full Preview Of Today's "Historic" FOMC Meeting

In what may be one of Janet Yellen's last, and certainly her most difficult in recent history meetings, tomorrow the FOMC will not hike rates but will announce the start of its balance sheet normalization programme, while revising its economic projections and hinting whether the December meeting is "live" for one more 2017 rate hike. Here's what else to look forward to...

"Lies, Lies, & OMFG More Lies!"

"The most dangerous man to any government is the man who is able to think things out for himself, without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane and intolerable..."

FX Week Ahead: Central Bank Credibility Slips Yet Again, Fed Up Next

The stand out risk event of the week is clearly the FOMC meeting and announcement on Wednesday, and the focus will be on whether the Fed are ready to balance out the odds of another 25bp hike on the table for this year. We know they are more comfortable in moving having prepared the market first, although we are close to 50/50 again, but only just. 

Deutsche Bank: "This Is The $2.5 Trillion Question"

"The Fed is about to become hugely important for financial assets. If all goes well, nominal core rates will be relatively stable and the dollar gently weaker. There is a good chance it does not go well, however."