Dear Central Bankers, Learn to Shut Your Mouths

After ingesting the Trump agenda and spitting out its market implications investors and traders can get back to their usual pastime: trying to work out what central bankers are plotting. Two vital meetings loom in the next 10 days. The political upheaval in Italy means that the European Central Bank is all but certain to extend its big bond-buying program, due to end in March 2017, by a further six months when it meets on Thursday, December 8. Less than a week later, the U.S. Federal Reserve is expected to raise its main interest rate at its conclave on December 13 and 14 - a year after its first increase in almost a decade.