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Stock markets drifting towards recent lows
Tue, Nov 18 2008, 07:14 GMT
by Nicole Elliott
Quote:
‘Weep not for little Leonie,
Abducted by a French Marquis!
Though loss of honour was a wrench,
Just think how it’s improved her French’ Harry Graham (1874-1936)
The News:
Minutes of the Reserve Bank of Australia’s November meeting have a sense of urgency on the destruction of household wealth.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
05:30 JP October Tokyo Department Store Sales –8.4% Y/Y, Nationwide –6.8%, versus –4.6% and –4.7% September.
09:30 GB October CPI (-0.2% to +0.2% M/M, +4.3% to +5.0% Y/Y, Core +2.0% to +2.3% Y/Y, versus +0.5%, +5.2%, and +2.2% September).
13:30 US October PPI (-2.8% to –0.3% M/M, +5.4% to +7.8% Y/Y, versus –0.4% and +8.7% September).
13:30 US October Core PPI (-0.4% to +0.3% M/M, +3.8% to +4.1% Y/Y, versus +0.4% and +4.0% September).
14:00 US September Net Long-term TICS flows ($5B to $60B versus $14B August).
15:30 GB Bank of England’s Beasley delivers annual lecture to the Royal Economic Society, London.
18:00 US November NAHB Housing Index (12 to 16 versus 14 October).
23:50 JP September All Industry Activity Index (Mizuho Securities +0.3% versus –1.8% August).
The Psychology:
Stock markets drifting towards recent lows.
The Risk:
US Fed’s Hoenig says: ‘the Fed has done as much as it can do. We might put it out there (money), but banks are not able to, given their own capital constraints, able to lend as aggressively’.
Today’s most interesting chart: S&P 500 Index
Re-testing October’s low.
Published on Tue, Nov 18 2008, 08:31 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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