Morning Memo: Wednesday, July 17, 2013

"Morning Memo" begins below this "NOTE for  NEWCOMERS" to "Morning Memo"...... Each morning, we post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets.  It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities!  Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.
This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.  
We hope you find this useful and informative....and as always, that you'll share feedback!!

• Relatively quiet overnight ahead of today's Bernanke testimony in front of Congress.
• Asia equity markets mixed.  Volumes light.
• China stepping up bribery probes a la recent allegations re GlaxoSmithKline.
• India...trying to encourage more FDI (Foreign Direct Investment), is easing restrictions currently in place in over a dozen industries.
• Europe opens up, USD firm ahead of Bernanke.
• more later....
• Japan...July 21 Upper House elections likely to be big win for LDP (Abe's party) which would put Parliament in place to support Abe's pro-growth policies of super-easy monetary policy, structural reforms and public spending.
• Bernanke prepared comments show 'stay the course' message.  
• US...Housing Starts and Permits wte (worse than expected).
• more later....

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(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
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