Fed Week
September 15, 2025
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U.S. equities are near all-time highs as markets prepare for the Federal Reserve (Fed) to resume its interest-rate-cutting cycle this week.1 Investment-grade corporate spreads are also near all-time tights.2 Bitcoin and gold are also trading near all-time highs as markets embrace a potential growth re-acceleration after the Fed resumes its interest rate cuts this week.3,4 The historic equity move in Oracle,5 along with the magnitude of the artificial intelligence trade and its impact, shows that animal spirits are alive and well. We see evidence of this in the merger and acquisition environment.
We will be watching central bank decisions in the week ahead, especially the Federal Open Market Committee announcement on Wednesday afternoon.6 Markets expect the Bank of Canada to cut 25 basis points on Wednesday, while the Bank of England and the Bank of Japan are expected to hold rates unchanged later this week.7 Importantly, we will listen for clues regarding forward guidance and insight on the economy and employment. This week’s key economic data points include U.S. retail sales on Tuesday and the U.K. consumer price index (CPI) on Wednesday morning.8,9
Sources:
1,4-6,8Yahoo! Finance – Fed's rate decision looms as markets hover near records: What to watch this week; 9/15/25
2Reuters – US corporate debt market returns in force after market holiday; 9/5/25
3CNBC – Bitcoin/USD Coin Metrics; as of 9/15/25
7,9Morningstar – Week Ahead for FX, Bonds: Fed Set to Cut Rates; Policy Decisions Due in Japan, Canada, U.K.; 9/14/25
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