The two-day FOMC meeting ended with a 50 bp hike in the target range to 4.0-4.75%, as expected; as the dust settled, the market eventually focused on the entirety of Powell’s message, which was overwhelmingly hawkish; the Fed narrative finally seems to be moving our way; retail sales data will be the data highlight; we get the first survey readings for December; Mexico is expected to hike rates 50 bp to 10.5%; ECB is expected to hike rates 50 bp to 2.5%; further details about QT are expected; BOE hiked rates 50 bp to 3.5%, as expected; SNB hiked rates 50 bp to 1.0%, as expected; Norges Bank hiked rates 25 bp to 2.75%, as expected; Japan reported soft November trade data; Australia reported firm November jobs report data; New Zealand reported firm Q3 GDP data; China reported weak November IP and retail sales data; Philippines hiked rates 50 bp to 5.5%, as expected; Taiwan hiked rates 12.5 bp to 1.75%, as expected