Signs of global recovery underpin market sentiment

Market movers ahead

  • In the US, fiscal cliff negotiations continue after the Thanksgiving break.

  • The eurogroup and IMF get another shot at reaching an agreement on Greece.

  • The regional election in Catalonia could bring Spain back into the limelight.

  • We expect data for October to show that Japan is in recession.

  • In Sweden, GDP growth appears to have eased only moderately in Q3.

Global update

  • US data show a resilient manufacturing sector and an improving housing market.

  • In the euro area, there are tentative signs of stabilisation in PMIs and German Ifo.

  • In China, the HSBC manufacturing PMI suggests the recovery is gaining strength.

  • The Bank of Japan took a breather but is poised to ease further as soon as December.

  • GDP growth in Norway was resilient in Q3 on the back of strong domestic demand.

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