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JGB TECHS

(M2) Correction Extends

US STOCKS

Late Session Rebound

AUSSIE 10-YEAR TECHS

(M2) Corrective Cycle Remains In Play

AUSSIE 3-YEAR TECHS

(M2) Gains Still Considered Corrective

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FED

A quick recap of overnight news re: the race surrounding the Fed Chair role:

  • The WSJ reported that "Federal Reserve Chairman Jerome Powell was seen visiting the White House on Thursday, according to people familiar with the matter."
  • Axios sources suggested that "the White House is asking Democratic senators to meet with Federal Reserve chair Jerome Powell before Thanksgiving - leading some to believe President Biden will renominate him this month, people familiar with the matter tell Axios."
  • As you can see from the chart below, these reports (particularly the WSJ story) boosted the odds of Fed Chair Powell being nominated to serve a second term.

Fig. 1: Odds On Whom Will The Senate Next Confirm As Chair Of The Federal Reserve?

Source: PredictIt

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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