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French president Sarkozy to lead talks this weekend on the financial crisis
Fri, Oct 3 2008, 06:46 GMT
by Nicole Elliott
Quote:
‘These capitalists generally act harmoniously, and in concert, to fleece the people, and now that they have got into a quarrel with themselves, we are called upon to appropriate the people’s money to settle the quarrel.’ Abraham Lincoln (11th January 1837)
The News:
French president Sarkozy to lead talks this weekend on the financial crisis as Germany and the UK pour cold water on speculation of a €300B bank bail-out fund.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
06:45 CH September CPI +0.1% M/M, +2.9% Y/Y, versus –0.3% and +2.9% August.
09:30 GB September Services PMI (47.5 to 48.8 versus 49.2 August).
09:30 GB Q2 Housing Equity Withdrawl (-£1.6B to +£4.0B versus +£5.0B Q1).
10:00 EZ15 August Retail Sales (-0.6% to +0.4% M/M, -3.3% to –0.4% Y/Y, versus –0.1% and –2.3% July).
13:30 US September Non-Farm Payrolls (-175K to -75K, Unemployment 6.0% to 6.2%, versus -84K and 6.1% August).
13:30 US September Average Earnings (+3.5% to +3.7% Y/Y, Workweek 33.6 to 33.7 hours, vs +3.6% and 33.7 Aug).
15:00 US September Non-Manufacturing ISM (48.5 to 51.5 versus 50.6 August).
The Psychology:
Holidays in China, Indonesia, Pakistan and South Korea. Monday holiday in Australia & Egypt.
The Risk:
One-month at-the-money implied volatility in FX versus USD at or close to record highs. CBOE VIX Indicator also close to highs of 1998-2002.
Today’s most interesting chart: Dow Jones Transportation Average
Down 8.7%, second biggest daily fall.
Published on Fri, Oct 3 2008, 06:49 GMT
Archive
- An estimated 250K Irish public sector workers to strike today protesting planned pay cuts
Published On Tue, Nov 24 2009, 07:18 GMT - Japanese Labour and Thanksgiving holiday today
Published On Mon, Nov 23 2009, 07:25 GMT - US House Committee postpones vote on banking reforms
Published On Fri, Nov 20 2009, 07:44 GMT - South Korea to limit FX forwards; Taiwan frets over ‘hot money'
Published On Thu, Nov 19 2009, 07:55 GMT - Short term interest rates drop closer to zero
Published On Wed, Nov 18 2009, 07:34 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
Legal disclaimer and risk disclosure
The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
European Market Update - German IFO survey hits 15 month highs by TradeTheNews.com
Tue, Nov 24 2009, 11:00 GMT
Top Fundamental Stories - German IFO Climbs to the Highest Level in 15 Months by ecPulse.com
Tue, Nov 24 2009, 10:43 GMT
Daily World Market Update - Dollar's Day of Data; GDP, Consumer Confidence, Fed Minutes by World First UK Ltd
Tue, Nov 24 2009, 08:39 GMT
KBC News Picks - US: Existing home sales at highest level since February 2007 by KBC Bank
Tue, Nov 24 2009, 08:24 GMT
Top Fundamental Stories - Europe Ahead: Germany's GDP Unrevised as Imports and Exports Rise by ecPulse.com
Tue, Nov 24 2009, 08:09 GMT
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