Quote:
‘Frankly, if you really want to know, it is very frustrating that I’m ahead of my time. Some of my ideas take 25 or 30 years to get through.’ Prince Charles (1948-)
The News:
India’s central bank raises liquidity ratio to 25% from November 7th.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
09:00 EZ16 September M3 Money Supply (+1.8% to +2.5% Y/Y versus +2.5% August).
11:00 GB October CBI Distributive Trades Survey (versus 3.0 September).
13:00 US August CaseShiller House Prices (+0.5% to +2.0% M/M, -13.0% to –11.0% Y/Y versus +1.6%/–13.3% July).
14:00 US October Consumer Confidence (50.6 to 57.0 versus 53.1 September).
15:00 CA Bank of Canada governor Carney and senior deputy Jenkins at House of Commons Finance Committee.
16:00 US Treasury’s Geithner at SIFMA annual meeting, New York.
23:50 JP September Retail Trade (Mizuho Securities +0.2% M/M, -2.0% Y/Y, versus +1.0% and –1.8% August).
23:50 JP September Large Retailers’ Sales (Mizuho Research Institute –6.1% versus –6.8% August).
The Psychology:
Investment bankers out of favour and in the press continually.
The Risk:
Stock market wobbles.
Today’s most interesting chart: Dow Jones Utilities Index
Top-heavy and testing the 50-day moving average, as are many European indices.
