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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
- US regulators close seven banks yesterday, six in Illinois, bringing total to 52 so far this year
Published On Fri, Jul 3 2009, 06:40 GMT - US June vehicle sales –28% to 9.69 million units, Domestic 7.2M
Published On Thu, Jul 2 2009, 06:30 GMT - A very slow recovery means rates could stay close to zero for years
Published On Wed, Jul 1 2009, 06:40 GMT - Fannie Mae's seriously delinquent mortgages 3.42% vs 1.22% year ago on total $789B portfolio
Published On Tue, Jun 30 2009, 06:22 GMT - The country is not spiralling in to deflation
Published On Mon, Jun 29 2009, 06:41 GMT
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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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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