Quote:
‘Brevity is the soul of lingerie.’ Dorothy Parker (1893-1967)
The News:
China October Industrial Output +14.7% Y/Y, slowest in 22 months
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP September Tertiary Industry Index –1.3% versus revised +0.4% August.
04:00 JP October Tokyo Condominium Sales –28.8% versus –0.7% September.
04:30 JP October Bankruptcies –0.4% versus +4.4% September.
08:30 SE October 25th Riksbank Minutes of rate-setting meeting where they +25 basis points to 2.75%.
09:30 GB Oct Jobless Claims (-3K to +8.8K, Sep ILO Unemployment 5.4% to 5.6%, vs +10.2K and 5.5% September).
09:30 GB Sep Average Earnings (+3.9% to +4.2% inc bonus, ex-bonus +3.5% to +4.2%, vs +4.2% and +3.6% 3M).
10:00 E12 September Industrial Production (-1.0% to +0.2% M/M, +3.2% to +5.1% Y/Y, vs +1.8% and +5.4% Aug).
10:30 GB November Bank of England Quarterly Inflation Report; news conference.
13:30 US November Empire Manufacturing Survey (5.0 to 19.5 versus 22.9 October).
13:30 CA September Vehicle Sales (-4.2% to –3.0% M/M versus +2.8% August).
13:30 CA September Manufacturing Shipments (-2.5% to +0.3% M/M versus –0.3% August).
19:00 US Fed Minutes of October 24th FOMC meeting.
The Psychology:
Bank of Japan starts a two-day rate-setting meeting; expected unchanged at 0.25%.
The Risk:
FX thrashing around looking for direction.
Today’s most interesting chart:
US Tbond future Highest price/lowest yield since March 2006.
