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FOMC, EMU PMI, and Pre-G20 Positioning: Crossroads and Crosswinds
The week ahead is likely to provide some clarification for investors on three fronts that have been a source of uncertainty. The FOMC meeting, with updated forecasts, is center stage. The credit markets are pushing the Fed to be aggressive but can be disappointed. In the eurozone, the preliminary PMI may confirm a modest, even if uneven recovery. The G20 summit is the focus of much attention as many see it as the last opportunity to avoid a further escalation of trade tensions between the world's two largest economies, in a repeat of the Buenos Aires gathering at the end of last year. FOMC US jobs data disappointed, ... (full story)