Nordea with the note:
The Fed is about to signal that it needs to accelerate its tapering process, but market pricing could still become more aggressive. The ECB will move more slowly. The Chinese authorities have also become more worried about the growth outlook.
Christmas is a mere two weeks away, but the holiday mood will have to wait, as a daunting central bank calendar looms next week. Among the majors, the Fed, the ECB and the Bank of England all have meetings next week. And amidst the current uncertain economic situation, the outcomes of those meetings are far from certain. Meanwhile, China’s central bank has moved its monetary policy as well, but towards an easier stance.
