Semana del 21 de septiembre de 2026

Last week's three-bank cluster is in the book: the FOMC hiked 25 basis points to 3.75-4.00% on a 12-0 vote, 12 of 18 officials penciled in one more 2026 move, and October follow-up odds sit around 55-58%. The Bank of Japan lifted to 1.25% (highest since 1995) on a 7-2 vote, and the Bank of England held at 3.75% on a 6-3 split. This week is digestion, not a decision: Wednesday's global flash PMIs are the first activity read after those hikes, Thursday's Swiss National Bank is widely expected to hold at 0.00%, and a wave of Fed speakers (Goolsbee, Williams, Jefferson, Barr, Hammack, Paulson, Bowman, Schmid) will be parsed for the October coin-flip. Overlaying the data is Thursday's Trump-Xi White House meeting -- Xi's first in a decade -- with the November 10 tariff truce the live question, plus Costco after the close as the consumer print into a 5% 10-year and 7%-plus mortgages. Japan is shut Monday through Wednesday for Silver Week. Energy remains the inflation overlay: WTI settled Friday at $100.30 after a $106.75 Tuesday high.