• The Fed’s action yesterday unfolded mostly as anticipated. The commentary which accompanied the action threw a wet blanket on risk assets, however. From the Financial Times.
• HSBC’s China Flash Purchasing Managers’ Index spooked markets after indicating manufacturing sector contraction for the third consecutive month. Order weakness from Europe and North America weighed on Chinese factory activity. From Reuters News.
• Miscalculation and dysfunction continue in Washington as the House bill to bridge government funding failed in the house. From the Wall Street Journal.
• Greece moved to cut pensions, raise taxes, and furlough workers in an effort to meet the aid requirements of the troika. From the Wall Street Journal.