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Daily Markets Diary - 12 October

The Fed continues its verbal intervention as the Federal Reserve Bank of Cleveland's Loretta Mester says even after the strong rate rises the central bank is yet to get surging inflation under control and will need to press on with tightening.

Barratt Developments today confirms its full-year forecasts but does state that private reservations remain under last year as customers respond to the wider economic uncertainty.

UK August GDP has come in at -0.3% m/m against expectations of zero percent.

President Biden has said there would be consequences for US relations with Saudi Arabia after the latest OPEC+ output cuts, but declined to clarify what options were being considered.

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