Beyond the sharp rebound back in global asset markets this week, there wasn’t a huge amount to discuss.
The weaker than anticipated US Employment report release last Friday perhaps opened up the potential for more optimism, by leading some to think the Federal Reserve could delay the anticipated December rate rise.
We are still splitting hairs here, and the release of minutes from the previous Federal Reserve meeting seemed to show that the vast majority of voting members still anticipate a rise before the end of 2015.
China was on holiday for most of the week with Golden Week celebrations (for those unaware, this is a semi-annual 7-day holiday held to celebrate National Day now, and the Lunar New Year in late March/early April), so little news was out there.
We do however have a major catalyst in China coming in just over a week, with the sitting of the Chinese Communist Party’s Fifth Plenary Session.
This is a meeting for the Communist Party to discuss the new 5-year plan for the years 2016-2020, and obviously with something of this significance we do expect to get news flow out of it that could influence markets globally.