- We see China’s regulatory crackdown that recently rattled markets likely to moderate, alongside a dovish shift in macro policy, for the near term.
- The Federal Reserve noted further progress in the economy as expected; we see a tapering of asset purchases unlikely to start before early next year.
- U.S. nonfarm payrolls will be in focus, with consensus forecast expecting a faster pace of growth than June when jobs gain was the largest in 10 months.
This article was written by
Jean Boivin, PhD, is head of economic and markets research at the Blackrock Investment Institute. Prior to joining BlackRock, Dr. Boivin served as deputy governor of the Bank of Canada and as Finance Canada’s associate deputy minister and G7/G20 deputy. He has taught at Columbia Business School and HEC Montreal. He writes about the global economy, global markets and policy.