Morning, traders! Happy Friday
Quiet day today, here are some of the things to look out for:
Sentiment
Wall Street's biggest banks agree the Fed will raise interest rates further into next year, but they disagree on how high they will go and whether they will be cut by the end of 2023.
Banks will return €296.3 billion ($308 billion) in cheap loans to the European Central Bank after the terms of the loans were tightened to help combat record inflation.
According to newswire analysts, small TLTRO repayments will help hawks push for QT.
A central bank adviser and prominent state-linked economist think that China should aim for at least 5% GDP growth in 2023 and move quickly to lift the economy out of its current slump.
Docket
08:30 AM ET
Canadian PPI MoM October: Median forecast 0.5%, range 0.9% / -0.3%
08:40 AM ET
Boston Fed President Collins gives opening remarks at a conference on the labor market hosted by her bank.
Text is expected to be made available.
10:00 AM ET
US Existing Home Sales October: Median forecast 4.4M, range 4.88M / 4.17M
Good luck today, and have a great weekend!
