Morning all.. Wall St seemed to wake up to the fact that the Fed may be hiking as stocks tumbled. S&P closed down 1% but had been lower. However markets in Asia were mixed with the Nikkei actually closing higher by 0.15% but Chinese stocks were lower after weak inflation data. CPI in the month of October was -0.3% mom, the first monthly decline in prices since May. That’s seen the YoY rate fall to +1.3% (vs. +1.5% expected) following a +1.6% reading in September with food prices in particular appearing to be a large contributor to the decline having fallen to 1.9% yoy from 2.7% yoy in the month prior. Prices at the factory gate continue to remain under pressure meanwhile with PPI of -5.9% as expected and unchanged from last month, marking the 44th straight monthly decline. Oil had another bad day yesterday but is close to unchanged in Asia. The dollar has been rather trapped in a tight range but USDJPY off the lows after the rally in Nikkei. In terms of the day ahead now, this morning in Europe see’s more industrial production prints out of France and Italy, along with the monthly manufacturing production read in the former. The calendar picks up a bit in the US this afternoon starting with the October NFIB small business optimism index reading, followed by last month’s import price index and then the September wholesale inventories and trade sales data later this afternoon. Meanwhile it’s a busy day for Central Bank speak. The ECB’s Coeure, Weidmann and Nouy are all scheduled to speak at various points, while over at the Fed we’re due to hear from Evans (at 10.15pm GMT) after the US close. Good luck..