Morning Memo: Friday, October 11, 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...taking its lead from yesterday's 323pt rally in the US, Asia markets were higher across the board on hopes that talks between the President and the Congressional Republicans would solve the near-term debt ceiling issue.
• Japan and Hong Kong will be closed on Monday, not for Colombus Day!  The US bond market will be closed Monday, but stocks will be open.
• China...the vice governor of the Central Bank was quoted as saying that China's GDP would exceed 7.5% this year.
• China...key inflation and trade data due out over the weekend.  GDP data next week.
• Europe...markets following US and Asia higher on US debt talks.
• Oil...the International Energy Agency (IEA) says (the FT reports) US refiners processed almost 1mm more barrels of crude y/y in September as the shale oil revolution in the US is supplying more and more oil, filling in the gap left by slipping production in countries such as Libya, Iraq and Nigeria.
• more later....

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