Market Comment | All eyes on Powell’s speech

The cancellation of the APEC summit in Chile next month introduced a note of caution in the markets as the date of theTrump-Xi meeting remains uncertain. Investors await more clues concerning the trajectory of the Fed policy heading into 2020.

Key points

• Key points:
• The U.S. growth rate eased less than expected to 1.9% in the third quarter.
• The yield on the 10Y UST bond dropped.
• Emerging currencies depreciated amid expectations of a less dovish tone from the Fed and idiosyncratic factors.
• Disappointing earnings weighed on Euro Stoxx banks.

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