Headlines discussed at LNWM’s Monday meeting:

— Angela Merkel was re-elected German Chancellor; far-right voted into Parliament with 13% of vote.
— S&P cut China’s credit rating, the first downgrade since 1999, citing risks from soaring debt levels.
— N. Korea said it would consider testing a hydrogen bomb in the Pacific, sending Asian markets lower.
— The Federal Reserve signaled it would raise interest rates in Dec., start selling fixed-income assets.
— Toys R Us filed for bankruptcy (reorganization), crushed by online competition.

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