Asian markets will likely open in the red on Monday following Wall Street’s slide on Friday. Powell made it clear that there will be no ‘pivot’ to a looser policy stance any time soon. U.S. households and businesses will have to endure some ‘pain’ as the central bank raises interest rates as high as necessary to get inflation back under control. Policymakers in Asia are in a different spot, especially those in China and Japan. Key developments that should provide more direction to markets on Monday: Australian retail sales (July) German inflation (August) and German economic growth (July), which should provide direction for Asian markets. If investors’ attention is drawn away from macro, it may turn towards geopolitics – the U. . . .