The FOMC waiting game begins: German business confidence fell for a sixth-consecutive month in October, the longest stretch of declines seen since late 2012,...

The FOMC waiting game begins: German business confidence fell for a sixth-consecutive month in October, the longest stretch of declines seen since late 2012, with the IFO expectations index slipping to 98.3. The reading was below the 99.3 level of September and median economist forecast for a decline to 99.2 and was the lowest level seen since December 2012. Mirroring the fall in the expectations measure, the current economic assessment index also deteriorated with a decline to 108.4 reported. The reading, the fourth-straight monthly decline, was below the 110.4 figure of September and expectations for a fall to 110.0 and left the index at lows last seen in May 2013. In what will come as a surprise to few, expectations and the current assessment indices topped out in April this year, the same month the Russia was first slapped with sanctions following the annexation of Crimea. (VIEW LINK)