Quote:
‘You cannot be mad at somebody who makes you laugh – it’s as simple as that’. Jay Leno (1950-)
The News:
Moody’s says banks carrying more short-term debt on balance sheets in at least 30 years.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP September Trade Balance +599B yen, Current Account +1567B, versus +303B and +1171B August.
(23:50) JP October M3 Money Supply +2.4% Y/Y, Bank Lending +1.5%, vs revised +2.1% and +1.5% September.
00:01 GB October Retail Sales Monitor like for like +3.8% Y/Y (highest since April) versus +2.8% September.
00:01 GB October RICS House Price Balance +34% versus +22% September.
04:30 JP October Bankruptcies –11.8% Y/Y versus –18.0% September.
05:00 JP October Economy Watchers’ Survey, Current 40.9, Outlook 42.8, vs 43.1 and 44.5 September.
06:00 JP October Machine Tool Orders –42.6% Y/Y versus –62.1% September.
08:30 EU27 Finance Ministers’ meeting, Brussels.
09:00 GB Bank of England’s Haldane gives a presentation on valuation and accounting, London.
09:30 GB September Trade Balance (-£6.4B to -£6.0B, Non-EU -£3.5B to -£2.8B, versus –£6.24B and -£3.04B August).
09:30 GB September DCLG House Prices (-5.0% to –3.7% versus –5.6% August).
10:00 DE November ZEW Survey (Sentiment 50 to 59, Situation –74 to –65, versus 56 and –72.2 October).
10:00 EZ16 November ZEW Sentiment (55.5 to 60 versus 56.9 October).
14:15 US Fed’s Lockhart speaks on the economy; Yellen at 15:05; Rosengren at 16:15; Tarullo at 20:30; Fisher 00:30.
23:50 JP September Machine Orders (Mizuho Securities +3.7% M/M, -25.6% Y/Y, vs +0.5% and –26.5% August).
The Psychology:
US Treasury secretary Geithner visits Japan (to November 11th).
The Risk:
Treasury auctions in Japan, the Netherlands, UK and USA.
Today’s most interesting chart: Dow Jones Industrial Average
New high for this year.
