Spreadex Market Update
George Osborne to launch Islamic bonds
Expect a volatile day in US markets today to mark the beginning of the two day Federal Reserve policy meeting, with speculators attempting to position themselves ready for any decisions. The main decision on whether to start tapering the $85 billion a month bond purchasing. Tapering is seen as unlikely given the recent government shutdown and unfavourable jobs data for September, with a delay until March the likely outcome. Speculators are however likely to follow the meeting feverishly and overreact to any surprises or announcements made causing huge swings. With results for the US being disappointing overall for the last month investor’s won’t be surprised if today’s PPI and Core Retail Sales miss forecasts, expected at 0.2% and 0.4% respectively.
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