Wednesday, November 6, 2013

Morning Memo: Wednesday, November 6, 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...mixed in relatively tight ranges.
  • Japan...weaker Yen sends Nikkei slightly higher.
  • China....Communist Party Meeting starts at the end of this week. Clues to economic reforms in focus.
  • Indonesia.. Q3 growth @ 5.6% is slowest since '09 as slowing exports to China and high local inflation and a widening current account deficit collectively take its toll.
  • UK..Industrial Production numbers for September stronger than expected.
  • Eurozone...Markit Composite PMI for October still above 50 but slightly lower than September's reading.  See chart from Markit and the FT:
  •  Of interest (only fyi!  Not in any way meant to be a recommendation!), related to our recent posts re "Buying EM by Not Buying EM!":
  • 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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