The BOE “surprised” with a rate hike last week but that aside, we’re on track for quite a number of major central bank action next year. Here is a neat crib sheet put out by ING before the events from last week:
Obviously, the Fed is arguably the more pertinent case to focus on. The doubling of the pace of tapering last week sets the stage for rate hikes to potentially come in April or May (1H 2021). So, that is an important caveat to pin when viewing the sheet above.
While not in the industrial heartland of China the official response is indicative of the risk of further lockdowns ahead and consequent disruptions to supply chains and the Chinese economy.
UBS expects iron ore to average $85 a ton in 2022
These compare with the current (SGX spot futures) price circa USD126. The price has plunged since
The major indices are closing near the session highs, and completing the second day of the “Santa Claus Rally” which saw strong gains yesterday, and solid gains again today.
Recall from yesterday, US equities finished the day slightly off highs:
The gains yesterday snapped a three day losing streak, and a six day period that saw stocks move down five of the six trading days.
The final numbers today are showing:
All 11 components of the S&P index rose on the day led by consumer discretionary’s +1.8%, technology was up +1.3% and health was up +1.1%.
