three small cuts and then moving on

Editorial The autopilot seems to be far behind us and Jerome Powell seems to have managed a successful soft landing . We are waiting for the publication US ISM figures and, above all, the subsequent statements by FOMC members to confirm the pause that is indicated in Powell’s latest statement . In Europe, the Brexit saga continues. "Brexit or treat? ” The MPs chose elections. They will take place on 12 December, and opinion polls and bookmakers show Boris Johnson as the big winner: this remind us of something , and w e will therefore take these indicators with a pinch of salt. In the shorter term, we will pay attention to the publication of European PMIs and Caixin. Being disguised as Johnson will be less frightening than expected, so we will have to find something else.