Market Comment | All eyes on tomorrow’s FOMC policy decision

Summary

Investors were cautious ahead of tomorrow’s FOMC meeting. A 25 bps rate cut is fully priced in, while expectations of a more aggressive cut waned.

Key points

• Key points:
• Oil plunged 5% as Saudi Arabia might return to full production in the next two or three weeks.
• Italy’s risk premium widened due to raising prospects of further government instability.
• The pound strengthened as Boris Johnson’s decision to suspend Parliament is under scrutiny in the Supreme Court.

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