Danilo Masoni gives a glimpse at the future.

Once again, it was not central bankers driving markets; rather, politicians.

The first was a Russian hint that Russia wants to stabilize energy markets. Wednesday’s 31% surge in gas prices turned into a 35% reverse from previous day’s peak – all within two hours after Putin’s comments.

The gas prices have risen sixfold in the past year, which is a major concern, particularly for those living within the euro area. If they stay at their current level, Europe would lose its trade surplus. Deutsche Bank (DE:) Points out.

However, markets are still calmed by the gasoline price recovery and a pullback in crude oil futures, which eased immediate worries about inflation spiralling out-of control.

Another politician came in later to ease mounting worries about the possibility of a U.S. bankruptcy. U.S. Senate Republican Mitch McConnell declared that his party supported an extension for the federal debt limit into December.

This helped Wall Street to close more solidly and saw ten-year Treasury yields fall from their 3-1/2-month peak of 1.5%, but they still remain higher than 1.5%.

Finally it was discovered that Joe Biden the U.S. President would actually meet his Chinese counterpart Xi Jinping during this year.

It means both European stock futures and U.S. stocks are headed north, after technology-led gains from Asia.

The crypto market has seen a slight decline in rally, but it is up 25% month-to-month, thanks to the news that George Soros’ family is trading cryptocurrency No.1.

Graphic: European gas prices – https://fingfx.thomsonreuters.com/gfx/mkt/xmpjokzqevr/morning%20bid.JPG

These are the key developments expected to give more direction for markets Thursday

* Shares of Chinese Estates, a former major shareholder of embattled developer Evergrande, jumped as much as 32% after it announced an offer to be taken private for $245 million.

* British house prices rose by the most in almost 15 years in September

* German real estate company Vonovia has reached 60.3% of voting rights to acquire Deutsche Wohnen (OTC:)

* ECB speakers: Board Member Isabel Schnabel, Philip

* U.S. weekly jobless claims

* Fed speakers: Cleveland Fed’s Loretta Mester