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Clients of Morgan Stanley withdrew $46B from money market accounts in September

Tue, Oct 28 2008, 07:30 GMT
by Nicole Elliott

Mizuho Corporate Bank


Quote:

‘Making money is art and working is art and good business is the best art.’ Andy Warhol (1928-1987)


The News:

US SEC says clients of Morgan Stanley withdrew $46B from money market accounts in September.


The Numbers:

Greenwich Mean Time, with expectations and previous figures in brackets.

(23:50) JP September Retail Trade –0.5% M/M, -0.4% Y/Y, Large Retailers –3.3%, vs +0.7%/+0.7%/-2.2% August.

00:01 GB Bank of England Financial Stability Report; Gieve speaks, London and Besley at 17:20.

03:45 JP auction result of twenty-year JGB: stop rate 2.174%, average yield 2.169%, bid-to-cover 3.52.

07:10 DE November GfK Consumer Confidence 1.9 versus 1.8 October.

11:00 GB October CBI Distributive Trades Report (-42 to –28 versus –27 September).

12:00 US former Fed chairman Volker speaks on the economy, Miami Beach.

13:00 US August CaseShiller House Prices (-18.0% to –15.0% Y/Y versus –16.4% July).

14:00 US Anthony Ryan replaces Paulson at securities industry do, New York.

15:00 US October Consumer Confidence (45.0 to 59.4 versus 59.8 September).

14:00 US October Richmond Fed Manufacturing Index (-30 to –19 versus –18 September).

23:50 JP September Industrial Production (-1.9% to +1.9% M/M, -8.0% to +1.8% Y/Y, vs –3.5% and –6.9% August).


The Psychology:

The US FOMC starts a two-day rate-setting meeting. Treasury auctions in the UK and US.


The Risk:

UK’s Gordon Brown to meet France’s Sarkozy at his home outside Paris this evening.


Today’s most interesting chart: Indonesian rupiah

Trashed to its weakest since April 2001.


Archive

Mizuho Corporate Bank  | 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk

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