"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...generally higher ahead of today's Fed FOMC announcement (~2pm ET)
- Japan...strong export data helped send the Nikkei higher by over 2%. A softer Yen and anticipation of Fed tapering helped exporter stocks in particular. The overall trade data continues to show the weaker Yen pushing up import prices, with a net trade deficit now the third largest on record.
- China...home prices in major cities rose in double digits despite gov't efforts to calm seemingly overheating markets. Meanwhile, Foreign Direct Investment rose in Nov, up 2.35% y/y ($8.5B), higher than Oct's 1.24% rise. FDI overall for the Jan to Nov period rose 5.48%, w/non-financial FDI up over 28% to $80B
- India...RBI surprises market by keeping rates steady! The market had leaned heavily towards a rate hike on the heels of higher inflation data in recent days.
- Europe...higher ahead of the Fed's meeting.
- UK..BoE keeps policy unchanged. Unemployment rate falls, lower than expected, to 7.4%, lowest rate since April '09.
- Germany....IFO business sentiment survey hits highest level since April '12.
- more later....
- LATER:
- US..Housing Starts better than expected, up 22.7% in Nov., highest level in nearly 6 years! Permaits, a bit lower than expected, but still at elevated level. The run-up in 30yr mortgage rates to recent levels near 4.4%, up nearly 1% from when tapering talk began last spring, had slowed housing for a few months, but this data suggest a resurgence.
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).
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, incl AEO. Positions may change at any time without notice.
(Sign up to "Follow by Email"! And share with others!)
(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, incl AEO. Positions may change at any time without notice.
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