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Start the Day
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Fed funds target could ‘go a little lower' as Q4 GDP might also be negative
Fri, Oct 31 2008, 07:22 GMT
by Nicole Elliott
Quote:
‘Volatility is the mother of opportunity.’ Ken Baird (1964-)
The News:
Fed’s Yellen says Fed funds target could ‘go a little lower’ as Q4 GDP might also be negative.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:30) JP September Jobless 4.00%, Job-to-Applicant 0.84, versus 4.2% and 0.86 August.
(23:30) JP September Household Spending –2.3% Y/Y versus –4.0% August.
(23:30) JP October Tokyo CPI+1.2% Y/Y, September Nationwide +2.1%, vs +1.4% and +2.1%.
00:01 GB October GfK Consumer Confidence –36 versus –32 September.
05:00 JP September Housing Starts 1.126M versus 1.130M August.
06:00 JP Bank of Japan cuts rates 20 basis points to 0.30%, first cut in 7 years on a split vote.
07:00 DE September Retail Sales –2.3% M/M, +1.2% Y/Y, versus +1.9% and –3.0% August.
10:00 EZ15 October CPI (+2.9% to +3.5% Y/Y versus +3.6% September).
10:00 EZ15 September Unemployment (7.4% to 7.6% versus 7.5% August). 10:30 CH October KOF (0.3 to 0.6 vs 0.6).
12:30 CA August GDP (-0.5% to -0.1% M/M versus +0.7% July).
12:30 US September Personal Income (-0.5% to +0.5% M/M, Spending –0.5% to +0.2%, vs +0.5% and 0% August).
12:30 US September Core PCE (0% to +0.2% M/M, +2.2% to +2.6% Y/Y, Deflator +4.1% to +4.5% Y/Y, versus +0.2%, +2.6% and +4.5% August).
12:30 US Q3 Employment Cost Index (+0.3% to +0.9% versus +0.7% Q2).
13:45 US October Chicago Purchasing Managers (43.6 to 54.5 versus 56.7 September).
14:00 US October final University of Michigan Confidence Survey (50 to 63 vs 57.5).
18:00 US Fed’s Bernanke speaks on mortgage finance, Berkeley.
The Psychology:
All Souls Day today; All Saints Day Saturday. Monday holidays in Japan and Russia.
Today’s most interesting chart: German 2YR Schatz
Highest price, lowest yield, since Sep 2005.
Published on Fri, Oct 31 2008, 10:32 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
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