What happened last week

Monday: Iran signs memorandum to join the Shanghai Cooperation Organization (SCO). The SCO summit ends with more nuanced communication from China around its relation with Russia. US Sept. NAHB housing market Index 46 vs 47 expected. Japan August CPI 3.0% YoY vs 2.6% expected. China PBoC Loan Prime Rate 3.65% on hold.

Tuesday: German Aug. PPI 45.8% YoY vs 37.1% expected. US Aug. building permits 1.517m vs 1.610m expected. Canada Aug. CPI 7.0% YoY vs 7.3% expected.

Wednesday: Russian President Putin calls up to 300k reservists, announces staged referendums in occupied Ukraine territories, and hints at possible use of military weapons against the West. The European Union finalizes the full text of...