Veterans Day – Lest We Forget. Overnight, Beijing unveiled a 10 trillion yuan ($1.4 trillion) program to defuse local governments’ debt risk but stopped short of unleashing new fiscal stimulus. The Hang Seng is down 1.6%, while the CSI 300 is up 0.6%.
So, after last week’s excitement, what’s in store for the week ahead? The focus shifts to mainstream inflation concerns. On Wednesday, we’ll see the U.S. CPI for October, just a week after the Fed’s rate cut. Could Trump’s policies prove inflationary? The S&P surged to an all-time high (6012.45), trading above the 6,000 level for the first time, as expectations of tax cuts and looser regulations under Trump boosted risk appetite. Bitcoin is also the talk of the town, trading at $81,891. During his campaign, Trump vowed to make the U.S. the “crypto capital” of the world by creating a strategic Bitcoin stockpile and appointing friendlier regulators.
Beyond the data, we’ll hear from Governor Christopher Waller on Tuesday, with appearances from Richmond Fed President Thomas Barkin and Philadelphia Fed President Patrick Harker on the same day. On Wednesday, Dallas Fed President Lorrie Logan, St. Louis Fed President Alberto Musalem, and Kansas City Fed President Jeff Schmid are also scheduled to speak. Jerome Powell will address the public on Thursday.
Today’s notable events include second-tier data on Denmark CPI and Norway CPI, as well as the kick-off of the United Nations climate change conference, COP29.
**For professional investors only** Any opinions, news, research, analyses, prices, or other information contained in this blog is provided as general market commentary and does not constitute (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. Some of this information may have been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. No representation or warranty, expressed or implied, is made or given by or on behalf of iSAM Securities or its directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this blog, and no responsibility or liability is accepted for any such information. As a result, any person acting on any information does so entirely at their own risk. iSAM Securities will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.