STIR: Effective Fed Funds Rate

Speaker of the Swedish Riksdag, Andreas Norlén, has tasked Moderate Party leader Ulf Kristersson with forming a new government following the victory of the right-wing bloc at last week's general election.

• Norlén: "I haven't set an end date, the new speaker of parliament will have to do that. It's going to have to take some time."
• The right-wing bloc made up of the Moderates, Sweden Democrats, Christian Democrats, and Liberals won 176 of the 349 seats in parliament to the center-left's 173 seats.
• Kristersson will face a stiff challenge building a workable government considering the hardline anti-immigration views of the Sweden Democrats.
• Fredrik Erixon of the ECIPE: “All these parties can probably agree on most of the main issues facing the country now... but policies on immigration will be far more difficult as the Sweden Democrats would like to see far more restrictions than the other parties want, and their policy on immigrant repatriation is completely off charts for Kristersson and his centrist colleagues.”
• Outgoing Prime Minister Magdalena Andersson left the door open to joining a coalition if Moderates cannot build a governing coalition with the Swedish Democrats.
• Andersson: “I have told the parliament’s speaker that if the Moderates should change their minds […] my door is open to Ulf Kristersson. We are prepared to work with all parties except the Sweden Democrats.”

• MNI: CANADA AUG INDUSTRIAL PRICES -1.2% MOM; EX-ENERGY -0.3%
• CANADA AUG RAW MATERIALS PRICES -4.2% MOM; EX-ENERGY +0.1%