"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...
- US budget and debt ceiling talks continued through the weekend with the Senate leaders McConnell and Reid seemingly close to an agreement, but not able to move forward yet. Deadlocked!
- Asia..Japan and Hong Kong closed for holdiays
- China...Trade data disappoints with a surprising 0.3% y/y drop in exports, raising worries about a slowing global demand in September. Slowing demand from EM countries who've been hit with currency weakness since 'taper-talk' started, and slowing in exports to the US contributed to the drop in exports vs expectations of a 5.5% increase!
- China...Consumer Inflation rose 3.1% y/y, higher than expected, largely due to higher food prices. This is an acceleration from last month's 2.6% y/y rate. Reminder: the gov't has set 3.5% as their 'upper limit' on inflation, 7.5% as their 'lower limit' on GDP which will be announced for Q3 on Friday. Mkt expects 7.8% GDP growth in Q3 (Q2 was 7.5%, Q1 7.7%) Producer Prices continue decelerating, down 1.3% y/y in September.
- India....cyclone slams eastern coast. Largest such storm in years. Many feared dead. Destruction massive.
- India..inflation @ 6.46%, a six month high in the Wholesale Price Index.
- Europe...markets mixed but generally lower on deadlock in US budget talks and on weak Chinese export data.
- Eurozone...Industrial Production better than expected in August.
- Spain...house sale prices fall
Spanish house sales down 15.3% y/y in August, sharpest decline since March 2012 pic.twitter.com/OrihexZBZ4
— Markit Economics (@MarkitEconomics) October 14, 2013 - US..Columbus Day..Bond markets closed. Stocks open.
- more later...
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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. Positions may change at any time without notice.
(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. Positions may change at any time without notice.
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