On Wall Street the Nasdaq closed Thursday’s session above the 20k-mark for the first time ever after the CPI data hit expectations. A further rate cut by the Fed is now expected next week. Asian markets followed suit into the green with investors now eyeing further stimulus from Beijing as a two-day economic summit ends today. We are live at the ECB where a fourth rate cut is almost a certainty but focus will turn to next year’s outlook as the euro zone grapples with faltering growth in France and Germany and the impact of the second Trump presidency. We are also at the SNB in Bern for the first rate decision under new chairman Martin Schlegel with markets split on the size of a widely anticipated rate cut.

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