Take Five: That rate cut trade
China continues to battle its property demons while it is Italy's turn to be in the eye of the ratings agencies.
Here is your week-ahead primer from Lewis Krauskopf in New York, Kevin Buckland in Tokyo, Danilo Masoni in Milan and Alun John and Dhara Ranasinghe in London.
1/ INFLATION WATCH
A slew of Federal Reserve policymakers including boss Jerome Powell say they are still not sure that rates are high enough to finish the battle with inflation.
Traders, anticipating roughly three quarter-point Fed rate cuts next year, will now turn their attention to Tuesday's inflation data to confirm their view on the outlook.
The October consumer price index is expected to have climbed 0.1% on a monthly basis, according to a Reuters poll. September's CPI rose 0.4% on a surprise surge in rental costs, but also showed a moderation in underlying inflation pressures.
A sharper cooling could fan the peak rate talk, fuelled by October's employment report, which pointed to an easing in labor markets.
A federal government shutdown meanwhile looms if lawmakers in Washington are unable to pass a measure to at least temporarily fund operations before a Nov.
17 deadline.
Fresh wrangling could renew concerns about governance in the world's biggest economy.
2/ TROUBLE AT HOME
The question of who will be left holding the bag filled with China's property mess may have gone some way to being answered — much to the chagrin of Ping An shareholders.
Reuters reports that Beijing asked the insurer to take control of ailing Country Garden, China's biggest private developer.
Ping An shares dived to one-year lows, in spite of the company's denials. Worries about the sector continue to weigh.
Government measures to shore up the economy have
