Morning Bid: Navigating US election, Fed, bond market tumult
Global markets will be overwhelmingly dominated by the U.S. presidential election and interest rate decision later this week, so Monday's activity may be driven by position adjustments as investors take in the latest polls, newsflow, earnings and economic indicators.
Can this 'risk on' sentiment prevail with the U.S. election so close, and with bond yields on the rise not just in the US but around the world? Last week was challenging for Asian markets. The MSCI Asia/Pacific ex-Japan index fell for a fourth week in a row last week, and October's slide of 4.9% marked the worst month since August last year.
But attention will once again center on Beijing this week. China's top legislative body the National People's Congress meets on Nov. 4-8, with markets widely expecting the approval of more fiscal stimulus measures.
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