Greetings,
United States: The FOMC delivered a widely anticipated hawkish shift to tackle surging prices. As expected, the central bank will double the pace of taper. That change opens the possibility of a rate hike as early as March. The market now sees even odds of such an outcome.
The FOMC boosted its inflation forecasts.
Eurozone: How much will QE slow next year? Below is an estimate from Pantheon Macroeconomics.
Emerging Markets: The renminbi has decoupled from other EM currencies.
Energy: US gasoline demand firmed up last week.
Equities: Q4 earnings estimates came down in a number of sectors.
Food for Thought: Power delivery costs:
Edited by Daniel Moskovits
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