Coming soon: 25 hours that will have big implications for markets

The Fed has “put the possibility of an interest rate hike in December firmly back on the table.” Which has “set the stage for what will be the most important 25-hour period that markets have experienced for a very long time. From 7.45am on Dec. 3 to 8.30am on Dec. 4, markets will embark on a rollicking cross-Atlantic tour of central bank speak and economic data." First the “ECB will make an interest rate decision that could see further stimulus. Then at 10am Janet Yellen will appear before Congress. Markets will then get the chance for a brief sleep before 8.30am on Dec. 4, when the last U.S. jobs report before the Fed is scheduled to make its own interest rate decision on Dec. 16 is published. That decision could see the U.S. central bank tighten just as the ECB eases (the kind of divergence in international monetary policy that hasn’t happened since late 2008, a time of mass uncertainty). The outcome of these 25 hours will no doubt have big implications for markets. Mark your calendars now. (Source: Bloomberg)