Markets on hold ahead of US elections. Last week started with Thomas Jordan, the SNB chairman, stating that neither helicopter money nor cash abolition was on the Swiss central bank’s agenda. In the US, real estate continues to recover along with other economic data remains on the soft side. In Brazil, the new government won a small victory in its fight to shore up fiscal deficit as the Chamber of Deputies passed an austerity measure, which would mostly reduce social welfare. The market’s response was however mixed as the outlook remains cloudy. In Australia, the consumer price index surprisingly rise in the third quarter, dampening the prospect for further rate cut from the RBA.
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