From the events of the past week, we note: ECB & Euro The policy remains unchanged, but public documents indicate the possibility of adjusting monetary stimulus at the December meeting after the formulation of new forecasts and a reassessment of the risk balance for the outlook. Lady Christin...

A «soap opera» is underway to reach an agreement on a fiscal stimulus package involving the Trump administration and Democrats. Promises of a compromise have supported the US stock market for quite some time, which was beneficial to Trump. However, Speaker Pelosi's statement about the lack of full a...

So … Brexit The downgrade of Britain's global rating by Moody’s agency confirms the complete failure of the foreign and domestic policy of the Johnson government. As expected, the EU leaders' summit decided that the current progress is not enough to start the final «tunnel» negotiations, the ...

Markets did not react to the publication of the FRS protocol, although the document can be considered quite aggressive. Nevertheless, if Congress passes a fiscal stimulus package, it should be borne in mind that the Fed's policy may be more stringent than investors currently expect. Trump's behavio...

So... USA September NFP came out mixed, with below-forecast job growth offset by falling unemployment rates. However, this is a double negative for the market, as the slowdown in the rate of return to work harms the stock market, and the fall in unemployment rates does not allow counting on ne...

The result of Powell and Mnuchin's speeches in the US Congress can be considered the intensification of negotiations on new fiscal stimulus, which could give $1-3 trillion. to restore the economy. Trump has publicly agreed to $1.52 trillion, the final Democratic bill is demanding $2.4 trillion, but ...

So, … FRS Federal Reserve will not tighten monetary policy until US returns to its highest employment and inflation rate of 2%. There is still no understanding of how strong and for what specific period inflation should exceed 2.0% for the Fed to begin discussing the feasibility of raising rat...

The main pain points of the past week: Britain The Johnson government has submitted a draft Internal Market Law to parliament for parliamentary consideration, keywording of which violates Britain's commitments to the EU already enshrined in the Brexit agreement. In particular, this applies to ...

The S & P500 plunged 3.5% amid a collapse in tech stocks: Apple declined 6.6%, Tesla declined 7.7%, Nvidia declined 9.3%, and Dow Jones lost 0.56%. These problems have not yet caused significant volatility in related markets, with the exception of active oil futures: on Friday, WTI and Brent lost mo...

Let us recall the important events that the markets «pleased» us with at the end of last week: Powell's speech at the Jackson Hole Summit The head of the FED announced a change in priorities and adjustments to the goals of the Fed's dual mandate on inflation and employment. Now the FED will fo...