Five Things You Need to Know to Start Your Day: Europe
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Good morning. Traders remain on edge as uncertainty grows over the impending Fed rate decision. Is it time to buy the dip in AI stocks? BlackRock is overhauling its private credit business. Here’s what people are talking about.
The Federal Reserve begins its two-day policy meeting today, and the stakes are high with investors on edge about whether the US central bank cuts interest rates by a quarter-point or a half-point. Traders haven’t been this divided about the outcome of the next Fed decision since the lead-up to the global financial crisis. The dollar held around its lowest level since January as traders boosted bets the Fed will deliver a half-point cut Wednesday, while Treasury 10-year yields remained little changed. With Fed members in a blackout period before the Sept. 17-18 gathering, traders are likely to rely all the more on the August retail sales report due later in the day.