� A treading water session as investors awaited FOMC.
� Strong retail data continued to support the narrative that the US economy is still chugging along.
� Equity barometers still generally moving the right way but appeared limited appetite to add any significant risk into today�s event.
� Construction space got a boost with better than feared numbers from FERG which highlighted a slowdown in residential markets but strong non-resi activity and pretty upbeat commentary on outlook.
� Consumer discretionary and staples also outperform post the sales data, while Utilities, Real Estate and Tech lagged.
� It�s a mixed Asian session, Hong Kong the notable outperformer and tech plays in the driving seat.
� Japan�s exports edged lower in Aug.
� China making the right moves ahead of Trump meeting�TikTok�s US ops will be sold to a group including Oracle.
� They also released a Wells Fargo banker whom it had blocked from leaving the country.
� The ZAR remains boringly steady.
� Treasuries held their gains: US2y 3.5/US10y 4.02.
� JGB futures extend gains following that strong 20y auction.
� Moves across the commodity basket are muted, oil and gold are marginally lower.
� We now move to the FED announcement which should give us a 25bps cut, but it�s the commentary/dot plot that will take center stage.
� The rand is weaker this morning, at R17.36/$, after closing stronger yesterday (R17.34/$*).
Key events and data:
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� 10h00: SA CPI (August)
� 10h30: UK house price index (July)
� 11h00: Eurozone CPI (August � final)
� 13h00: SA retail sales (July)
� 13h00: US MBA mortgage applications (12 September)
� 20h00: US FOMC interest rate decision - 25 bps cut expected
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