Fed minutes confirm December rate hike as markets rebound
US markets staged a comeback after early weakness; Fed minutes confirmed a December rate hike is on track.
Mainland Chinese markets reopen after a week-long break, with gold feeling their absence. The data calendar looks uneventful.
The main news as trading gets under way is the resumption of trading on mainland Chinese exchanges after a week-long break. Gold appears to have felt China's absence keenly; a separate update on gold follows.
The day's economic data agenda is likely to be of limited consequence.
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US markets staged a comeback after early weakness; Fed minutes confirmed a December rate hike is on track.
Fed minutes from September meeting revealed most officials expect another rate hike in 2026. Bitcoin rose slightly while stocks and gold barely moved.
FOMC minutes show most participants expect a rate hike by year-end, with many viewing current policy as not restrictive.
The US Treasury auctioned $39 billion of 10-year notes with a high yield of 5.300%, below the WI level of 5.317%.