SDVY - Week Ahead - The Festive Season Is Upon Us

• The Fed is done with speaking appearances for the year, so thin trading conditions should settle in once we get past Thursday’s economic data.
• The European central bank is poised to end new purchases under PEPP in March at which point the APP will be doubled before being pared back to €20 billion again in the fourth quarter.
• The Bank of England has started the tightening cycle with a 15 basis point rate hike, the smallest since the late ’80s. Three more rate hikes are now priced in for next year.
• The CBRT is making a mockery of monetary policy and the lira is continuing to get pummeled as a result, with USDTRY rising over 17 for the first time ever, a little over a month after it hit 10 for the first time.

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