Morgan Stanley on US equities at risk from a further unwinding of yen-funded carry trades

• If the Fed cuts aggressively

More on the failed changes at the Reserve Bank of Australia

• Adding some detail to the post earlier

The changes proposed for the Board of the RBA have failed

• This is not an unexpected development

Fed to halve biggest banks' capital hike in latest Basel plan, from 19% to 9%

• Federal Reserve Vice Chair for Supervision Michael Barr will speak on this later today

It "wouldn’t take much for the Fed to be behind the curve", then "a string of 50bp cuts"

• Deutsche Bank warn of a Federal Reserve policy error

Why year-end markets are full of opportunity (and danger)

Barclays rule out a 50bp FOMC rate cut in September, see 3 consecutive 25bp rate cuts

• Cuts in September, November and December.

Mark Carney will head Liberal advisory task force

• Carney wades into politics

Atlanta Fed GDPNow growth estimate for Q3 comes in at 2.5%

• Higher than 2.1% in its last estimate.

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New York Fed: 1 year inflation expectations unchanged at 3.0%.3-year up to 2.5% from 2.3%

• New York Fed inflation expectation survey

PBOC sets USD/ CNY reference rate for today at 7.0989 (vs. estimate at 7.0951)

• PBOC CNY reference rate setting for the trading session ahead.

Japan chief cabinet secretary Hayashi cites BOJ's Ueda saying more rate hikes ahead

Understanding the difference between M/M and Y/Y data

RBC expect the RBA to cut its cash rate in February 2025 (previously forecast May 2025)

• Reserve Bank of Australia forecast

PBOC is expected to set the USD/CNY reference rate at 7.0951 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

Goldman Sachs forecasts 25bp Fed rate cuts in September, November and December

• Three in a row coming up says Goldman Sachs

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BlackRock warns that a 50bp FOMC rate cut might signal worries, not confidence

• Jeffrey Rosenberg is a senior portfolio manager at BlackRock, warns a hefty Federal Reserve rate cut could backfire

JP Morgan Chief US Economist Feroli thinks a 50bps FOMC rate cut 'the right thing to do'

• Sees headwind to headwind to consumer spending growth

Bank of America expect an extended series of Federal Reserve and Bank of Canada rate cuts

• FOMC to cut at its next 5 meetings, BoC to cut at every meeting 'for the foreseeable future'

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Newsquawk Week Ahead: Highlights include China & US CPI, ECB rate decision, UK GDP

• Highlights for the week ahead include an ECB policy announcement, global inflation data, and Apple's awaited event

The Federal Reserve blackout starts at midnight

• It will run until after the FOMC decision

The Fed is in a tricky spot - CIBC

• Comments from CIBC economists after the jobs report