đ MACRO DIGEST: OCTOBER 17
EU: No surprises from the ECB's 25 cut rate decision. If inflation and PMI data decline in October and November, a 50bps rate cut could come in December. European stocks have already priced in 5 rate cuts by 2024, so earnings season will likely drive markets now.
US: Initial jobless claims for the week ending Oct 12 came in at 241K, lower than the 260K forecast, showing continued strength in the labor market.
