Schnabel ‘Comfortable’ with ECB rate Hike Bets, Traders Await Fed Decision | The Opening Trade 12/8

European Central Bank Executive Board member Isabel Schnabel said she’d be willing to take over as president when Christine Lagarde’s term ends in less than two years. Europe led declines in global bonds and German benchmark borrowing costs rose to the highest since March after Schnabel became the first senior official to suggest with any certainty that European rates have reached a floor.

The Federal Reserve is expected to deliver a third consecutive interest-rate cut this week, but Chair Jerome Powell’s challenge in getting his colleagues to support that move portends the difficult tests that lay ahead for his successor. US futures drifted after recent economic readings and comments from officials suggested Wednesday’s Federal Reserve rate decision is unlikely to be unanimous. At least three Fed policymakers are expected to dissent at the last Fed gathering of the year.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Guy Johnson.

Chapters:
00:00:00 – The Opening Trade
00:01:12 – Market Check
00:03:02 – Fed Rate Cut Bets
00:06:05 – ECB’s Schnabel on ECB Rate Hikes
00:08:26 – China Trade Surplus
00:10:32 – Japan, China Spat Deepens
00:12:11 – Netflix Warner Bros Deal
00:14:32 – S&P 500 Record
00:19:13 – Euro-USD
00:31:10 – BOJ Expected to Hike Rates
00:39:38 – Governments Can’t Increase Spending: Ray Dalio
00:41:43 – Fed Meeting ‘for traders’
00:47:49 – Stocks to Watch: Magnum Ice Cream, L’Oreal, Pharma
01:03:46 – Magnum Ice Cream Triples Listing
01:07:04 – Trump on Netflix-Warner Bros. Deal
01:14:47 – Trump Voices Disappointment in Zelenskiy
01:27:54 – Oil Price
01:29:47 – Fed Expect to Cut 25 BPS
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