U.S. Review
FOMC Still Has Cover to Focus on Inflation - Employers continued to add jobs at a steady clip in October, demonstrating the labor market remains tight and the FOMC will continue to tighten policy. The size of the December rate hike depends on the incoming data. October payrolls do not move the needle much toward a 75 bps hike, and they give the Fed cover to continue to focus on inflation.
Global Review
Bank of England Hints at a Slowdown - The Bank of England (BoE) raised its policy rate aggressively at this week's monetary policy announcement, raising its Bank Rate by 75 bps to 3.00%. The increase matched the consensus forecast; however, there were also signals from the BoE that the pace of tightening will likely slow going forward.