Wednesday, October 30, 2013

Morning Memo: Wednesday, October 30, 2013

ICYMI....did you see yesterday's "Note to Investors" with updated comments on markets and portfolios? 

Investor Update: Note to Investors: Tuesday, October, 29, 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...
  • Asia...up!! On the heels of a strong day in the US, Asia markets rallied ahead of today's FOMC conclusion, with markets seemingly expecting no news from the Fed and especially no imminent 'tapering' talk.
  • Australia...New Home Sales jumped in September to the highest monthly rise since  April '12.  This raised talk that the RBA is unlikely to need to keep cutting rates as they've done eight times in the past two years.
  • China...equity markets rallied despite still tightening conditions in money markets.  The Govt's one-year Tbill auction met with light demand and at higher rates than expected. This signaled investor anticipation of higher rates coming.  Overnight and one week rates tightened again in interbank lending markets.
  • Japan...Industrial Production rose 5.4% vs 5.5% exp, but still viewed positively, helped by weakening Yen this year helping exporters.
  • South Korea...a strike in the auto industry hurt Industrial Production numbers.
  • Europe...firm opening in anticipation of a 'no-tapering' Fed outcome later today.
  • Spain...economy came out of recession in the Q3!
  • Eurozone....Retail PMIs underwhelm.  From Markit:
  • Germany...unemployment rate worth watching:  From Markit:

  • US...Fed Fed Fed.....2pm press release.  No press conference.  (Bernanke still Chair.  Yellen's first meeting in March '14).
  • more later....
  • Later:
    • ADP Jobs up 130k, down from prior mth which was revised down from 166k to 145k.
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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Additional Disclaimer: currently long many stocks/ETFs, incl CAT and DE.  Positions may change at any time without notice.

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