THE END OF THE CHRISTMAS TALES

Edito The decision and less « dovish » than expected stance of the Fed’s communication launched probably the last wave of markets disappointment in 2018 and that, despite the lower “dots” forecasts that now see only two more hikes in 2019 instead of three previously. On the contrary, Italy comes to the end of the year on a more positive note having avoided the excessive deficit procedure. Finally, Brexit uncertainty remains strong in the UK with all main options still on the table (deal, no deal, second referendum). In terms of macroeconomic releases, the next two weeks should be rather calm. This is the last Markets Weekly News release of 2018. On behalf of Global Markets Research, we wish you a very happy festive season!