Monday, October 21, 2013

Morning Memo: Monday, October 21, 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!!

5:00am ET...

  • generally higher, still upbeat on the end of the US Gov't shutdown, and on prospects for delayed tapering in the US given the ongoing uncertainty on budget issues and given the seemingly more dovish posture of new Fed Gov Yellen.
  • Japan...BOJ Gov Kuroda says keeping monetary steady will keep the goal of reflating the economy on track.  The goal of reaching 2% inflation in 2 yrs, he indicated, appears to be making good progress.  The BOJ's quarterly report showed broad based upticks in economic assessments.
  • Japan...Trade Deficit, worse than expected.  15th month of deficit.  Yen weakened.  Equities rallied.
  • China...last week's GDP data (7.8%) continues to leave markets feeling positive on growth along w/comments by officials indicating more government economic support could be in the offing.
  • opened slightly higher, but are mixed, as early gains have given ground  
  • US data on Existing Home Sales today @ 10am ET.  Tomorrow, Non-Farm Payroll numbers for September (delayed from two weeks ago due to the US shutdown), consensus appears to be at 180k.  Earnings parade continues.
  • more later...

Please continue to visit Soos Global Market Musings for updates.
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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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