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Start the Day
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General Motors to axe 10,000 European jobs
Thu, Nov 5 2009, 07:19 GMT
by Nicole Elliott
Quote:
‘Pioneering don’t pay’. Andrew Carnegie (1835-1919)
The News:
General Motors to axe 10,000 European jobs as FOMC to keep ultra-low rates for extended period.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP Bank of Japan Minutes of board meeting of 13/14th October: smaller firms’ funding is severe.
03:45 JP auction result of ten-year JGB: yield 1.435, tail 0.14.
06:45 CH Q4 Consumer Confidence –30 versus –42.0 Q3.
08:15 CH October CPI (+0.1% to +1.0% M/M, -1.3% to –0.4% Y/Y, versus 0% and –0.9% September).
09:30 GB September Industrial Production (+0.3% to +2.7% M/M, -11.0% to –9.4% Y/Y, vs –2.5% and –11.2% Aug).
09:30 GB September Manufacturing Production (+0.4% to +2.1% M/M, -10.3% to –8.7% Y/Y, vs –1.9%/–11.3% Aug).
10:00 EZ16 September Retail Sales (-0.3% to +1.2% M/M, -3.0% to –1.8% Y/Y vs -0.2% and –2.6% August).
12:00 GB Bank of England decision (Base Rate unchanged at 0.50%; QE might be increased from £175B up to £225B).
12:45 EZ16 ECB interest rate decision (expected unchanged at 1.00%); 13:30 news conference.
13:30 US Q3 Unit Labour Costs (-6.3% to –1.9%, Non-Farm Productivity +3.8% to +8.5%, vs –5.9% and +6.6% Q2).
13:30 US Weekly Jobless Claims (510K to 535K, Continuing Claims 5730K to 5860K, vs 530K and 5797K prior week).
13:30 CA September Building Permits (-1.2% to +6.0% M/M versus +7.2% August).
15:00 CA October Ivey Purchasing Managers (56.0 to 63.5 versus 61.7 September).
19:15 US Fed’s FOMC interest rate decision (unanimously expected unchanged at 0.25%).
23:00 G20 finance ministers meet in St. Andrews, Scotland.
The Psychology:
T.
The Risk:
T.
Today’s most interesting chart: Eurodollar future
New contract highs in front months.
Published on Thu, Nov 5 2009, 07:25 GMT
Archive
- 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 - More dive in to top quality government bonds
Published On Tue, Nov 17 2009, 07:39 GMT - All and sundry banging on about the Chinese currency as president Obama hit Shanghai
Published On Mon, Nov 16 2009, 07:47 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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