Monday, October 28, 2013

Morning Memo: Monday, October 28, 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...
  • start the week in the 'green', undoing some of the damage done last week when the Nikkei fell over 3% and China fell 2.8%.  
  • Japan...In the absence of any key economic news, a slightly weaker Yen in early hours helped propel the Nikkei up over 2%.     Interesting charts from WSJ:
  • Australia.... hit a new five-year high.  
  • China... rallied, despite ongoing concerns about recent spike in short-term interbank lending rates.  That said, Chinese press and many analysts are playing down risks of a repeat of the liquidity crunch that hit markets last June.  Today's seven-day repo rate came down a bit, which promoted optimism.
  • Thailand...Industrial Output declined for the six straight month at an annual rate of 2.9% as weaker domestic demand outweighs increased overseas demand.
  • higher on the heels of Asia and ahead of this week's US Fed's meeting where tapering is expected to be put off for a later date.
  • UK...southern England hit with big storm, disrupting all kinds of transport.   Despite delays and disruptions to business, analysts do not think that the storm will have a big impact on overall economic growth.
  • US...with egg on its face, acknowledges that the NSA has been spying on foreign heads of state for years!
  • US...Earnings parade continues in earnest this week.  For the current status of earnings reported so far, see FactSet's commentary which focuses on their view of Apple, but includes detail across the entire S&P 500 at
  • 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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