There are a lot of major events this week, and every day there are speeches by Fed policy committee members. Even though there isn’t any important data, it’ll still be full of tantalizing volatility—so it’s worth looking forward to.

Key events are as follows:

The 81st United Nations General Assembly general debate will kick off on the 22nd. Iranian President Pezeshkian is expected to deliver remarks at the UN General Assembly on the 23rd.

Given the heightened tensions in recent Middle East fighting (with even Trump openly mentioning a major decision he faces regarding a potential war with Iran), oil prices, gold, and overseas “tightening/armor-bulletproof” assets are likely to see wild swings next week due to statements made during the UNGA.

According to NHK, Japan’s Prime Minister Hayashi (or “Hajiji”?) is arranging a meeting with U.S. President Trump during next week’s UN General Assembly; Kyodo News reports that the meeting is being scheduled for September 22.

Ukrainian President Zelensky said he is open to a ceasefire in the energy sector and plans to discuss it during meetings with U.S. President Trump in New York from September 21 to 23. On the 13th, Trump urged Zelensky to stop attacks on Russia’s diesel fuel facilities, saying the related strikes are causing a shortage of Russian diesel fuel.

The Nasdaq 100 index quarterly rebalancing will take effect before the U.S. stock market opens on September 21. At that time, SpaceX’s weight in the index will rise to 2.82%, up sharply from its current weight of about 1.28%. The increase matters because passive funds tracking the benchmark must adjust their holdings accordingly. This includes Invesco QQQ Trust Series 1—known as QQQ—which, with assets of $482 billion, is one of the world’s largest ETFs.

Multiple Fed policymakers will deliver speeches this week. Since Fed Chair Waller himself has said he wants to avoid providing forward-looking guidance on the path of interest rates, any hints about the plans for the Fed’s current interest-rate-hiking cycle will become even more important. Fed Vice Chair Jefferson will speak at the 2026 U.S. Treasury market conference. FOMC voting member, Cleveland Fed President Hmark, an FOMC permanent voting member, and New York Fed President Williams will also give remarks.

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