"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...
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...markets lower across the board.
- China...the end of the Communist Party Plenum met with an underwhelming revelation of new policies for economic reform. The markets took the news, or rather, lack thereof, quite negatively!
- Indonesia..raised rates! A 25bp hike to 7.5% likely in order to support the weak Rupiah. Equity market fell close to 2%. (Editorial note: recall the 'counter-cyclical' policy responses, like this, that we've seen by EM countries faced with falling currencies that could exacerbate inflation, just when the economy needs stimulus to domestic consumption, and in the face of large current account deficits.)
- Spain...annualized consumer inflation fell in October (though the m/m number was up), raising eyebrows at the risk of a broader 'deflation' story in Europe and adding support to last week's surprise rate cut by the ECB.
- UK...Unemployment drops to 7.6% in Sept, down fr 7.7% in Aug. and closer to the 7% target that the BOE has set as the key metric for changing rate policy. Jobless claims also fell by more than expected.
- Eurozone...Industrial Production fell 0.5% in Sept, worse than expected!
- Of interest, related to our past posts on the "Obesi-fication of America"...data compiled by Bloomberg Businessweek from a US Dept of Agriculture study:
- Related topic:
- more later....
- LATER:
- UK...BOE Quarterly Inflation Report:
What you eat is largely dependent on how much education you have, and how rich you are | http://t.co/fWdswMQ8sT pic.twitter.com/PWe8AEhY6k
— Businessweek (@BW) November 12, 2013
Diabetes kills one person every six seconds, afflicts 382 million people worldwide: new estimates | http://t.co/N8gZD2Tpqy
— Bloomberg News (@BloombergNews) November 14, 2013
Carney has finally said it: The U.K. economy is doing well. Rates could rise sooner than expected http://t.co/TgBf21MOKq #inflationreport
— WSJ MoneyBeat (@WSJMoneyBeat) November 13, 2013
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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).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
(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).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
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