Fed Will Follow Markets, Not Election Outcome: Fitzgerald
A global equities selloff deepened and Mexico’s peso weakened as polls indicated a tightening race ahead of next week’s American presidential election. Treasuries rose ahead of a Federal Reserve policy decision and crude oil fell after a report showed American stockpiles expanded. An ABC News/Washington Post tracking poll on Tuesday showed Republican Donald Trump with 46 percent support to Democrat Hillary Clinton’s 45 percent, putting him ahead for the first time since May. While the Fed is expected to leave interest rates unchanged when a two-day meeting concludes Wednesday, futures indicate a 68 percent chance of a rate hike by year-end and investors will be on the lookout for any hints the authority may give regarding the policy outlook. Aviva Investors Global Head of Multi-Assets Peter Fitzgerald with Anna Edwards and Yousef Gamal El-Din in London and Manus Cranny in Dubai on "Bloomberg Daybreak: Europe."