Tuesday, December 3, 2013

Morning Memo: Tuesday, December 3, 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 markets in Asia. Following yesterday's relatively strong manufacturing data in the US which in turn triggered renewed fears that tapering could come sooner, the USD rallied to over 103.  The Yen weakness helped boost Nikkei shares.
  • China...mostly lower on follow-through selling after the announcement in recent days about IPOs being given the green light to start in earnest in Jan.
  • Australia...the RBA left rates unched @ 2.5% as expected.
  • Hong Kong...confirmed a case of the 'bird flu' (H7N9) in a person who had visited the Shenzhen region of China.  HK raised their pandemic alert level to "serious" from "alert"
  • Europe....generally lower as anticipation builds ahead of Friday's US Non-farm Payroll number.
  • Eurozone...PPI falls at fastest rate in four years in Oct, stoking fears of 'de-flation'!
  • UK..Construction data for Oct rose for the seventh straight month, at fastest pace in six years.
  • Of interest:

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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