Tuesday, December 10, 2013

Morning Memo: Tuesday, December 10, 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...mostly lower on the heels of yesterday's Fed Gov speeches that indicated 'tapering' could begin as soon as next month.  (Fed meeting next week).
  • China...Industrial Production rises 10%, slightly lower than prev month's 10.3%, but mostly in line.  Retail Sales rises 13.7%, stronger than Oct's 13.3% and better than expected.  Urban Fixed Asset Investment, at 19.9% annualized ytd, was slightly lower than Oct's ytd read; seen as an indicator of construction activity.
  • Australia...AUD moves lower on Chinese data.
  • Europe...opens lower on the heels of Chinese data, concerned about slowing industrial activity from its robust pace, and on French industrial data which was lower than expected.  By contrast, Italian industrial production rose more than expected in October.
  • Ukraine....protests and clashes w/the govt continue to grow over the govt's turn from the EU towards Russia.
  • 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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