On US monetary policy, opposing views from Fed officials were laid out during several speeches. Kansas Fed Reserve Bank President Schmid, who voted for September’s 25bp cut, signaled concerns about the risk that further interest rate reductions could spark inflation, while Board Governor Stephen Miran claimed the bond market’s current calm allows for lower rates.
Elsewhere, in commodities markets oil prices held steady with the barrel of Brent around $65 as investors continued to digest the lower-than-expected output increase from OPEC+ producers. Gold prices climbed and came close to hit a record of $4,000/ounce during the trading session amid continued uncertainty.
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