Next Week's Macro Outlook: Trump's Middle East 'Big Decision' Looms, Yen Intervention Window Nears, Markets Digest Fed Rate Hike Aftermath

BlockBeats news, September 19 — Next week, global markets will digest the aftermath of the Federal Reserve's first rate hike since 2023 this week and reprice the "higher for longer" rate path. Geopolitically, Trump is planning to meet with Gulf states during the UN General Assembly and is nearing a "major decision" on whether to escalate strikes against Iran; Saudi Arabia's capital has sounded air defense alarms again after several months, with oil market risk premiums and actual supply recovery pulling against each other; Japan enters a "Silver Week" long holiday, with low liquidity compounded by a pressured yen, raising expectations of policy intervention. Key events at a glance are as follows:

Tuesday:

Trump meets with Persian Gulf states during the UN General Assembly in New York and is nearing a "major decision" on Iran policy;

The U.S. Treasury auctions $69 billion in two-year Treasury notes;

New York Fed President Williams and Fed Vice Chair Jefferson speak.

Wednesday:

The U.S. Treasury auctions $70 billion in five-year Treasury notes;

Richmond Fed President Barkin speaks.

Thursday:

The U.S. Treasury auctions $44 billion in seven-year Treasury notes;

The European Central Bank publishes its economic bulletin;

New York Fed President Williams, Richmond Fed President Barkin, Cleveland Fed President Hammack, and Philadelphia Fed President Paulson speak intensively.

Friday:

U.S. September University of Michigan consumer sentiment index final reading, one-year inflation expectations final reading;

New York Fed President Williams speaks again.