General

Key News
* North Korea says won’t react to South drill (Reuters)
* French AAA Grade at Risk as Downgrades Sweep Europe (Bloomberg)
* Soros Gold Bubble at $1,384 as Miners Push Buttons (Bloomberg)
* ECB Concerned About Irish Proposals to Stabilize Banks (Bloomberg)
The Event Agenda

Afternoon Run-Down
The euro and pound continue to slip lower after sharp declines on Friday. [...]

{ 0 comments }

Key News
* Live coverage of the Irish budget (Telegraph)
* China rate rise talk builds as loans and inflation rise (Reuters)
* IMF critical of euro zone crisis management (Reuters)
* EU Rules Out Aid Boost, Banks on ECB to Fight Crisis (Bloomberg)
The Event Agenda

Afternoon Run-Down
The markets are giving the appearance of a return of the “reflation trade.” [...]

{ 2 comments }

Key News

*ECB Support May Prove `Critical’ for Spain as Crisis Worsens (Bloomberg)
* Japan Showing Risk Economy May Contract (Bloomberg)
* Spanish Banks Face Funding Hurdle Amid Bailout Threat (Bloomberg)
* Now North Korea boasts advances in nuclear program (Reuters)

The Event Agenda

Afternoon Run-Down
Risk premiums in Europe continue to rise this morning. The credit default swaps on Portugal and [...]

{ 1 comment }

Key News

*Ireland Multi-Notch Downgrade Now Most Likely Outcome (WSJ)
* Thailand in technical recession as Asia growth slows (Reuters)
* S&P downgrades New Zealand outlook to negative (MarketWatch)
* China Inflation `Volcano’ (Bloomberg)

The Event Agenda

Afternoon Run-Down
Ireland made a formal request for financial assistance today from its European neighbors. Estimates are that it will cost in the neighborhood of [...]

{ 0 comments }

Key News

*Japan’s Cabinet OKs $61 billion economic stimulus (AP)
* Treasury Draws Negative Yield for First Time During TIPS Sale (Bloomberg)
* Sterling rallies after UK GDP, confidence boost from S&P (Reuters)
* U.S. Consumer Confidence Rose in October From 7-Month Low (Bloomberg)

The Event Agenda

Afternoon Run-Down
Yesterday’s knee jerk response from the G-20 meetings was, once again, to sell [...]

{ 0 comments }

Key News
* ECB Should Renew Monetary Support If Recovery Stalls, IMF Says (Bloomberg)
* BOE Leans Toward More Purchases After October’s 3-Way Split (Bloomberg)
* U.S. banks see higher corporate loan demand, profits (Reuters)
* Bank of Canada Sees Slower Growth (Bloomberg)
The Event Agenda

Afternoon Run-Down
Yesterday’s across the board sell-off in the “reflation trade” is in retracement mode already.
While [...]

{ 1 comment }

Key News
* Thailand sets bond tax to curb inflows, tame baht (Reuters)
* Economists cut U.S. growth forecast (Reuters)
* Fed’s Hoenig: Economy Needs Rate Hikes, Not Fresh Fed Support (WSJ)
* Fed Officials Were Prepared to Ease `Before Long,’ Minutes Say (Bloomberg)
The Event Agenda

Afternoon Run-Down
Since Friday, following a negative surprise in US payrolls, the market has been [...]

{ 2 comments }

Key News
* Eurozone banks face test as loans expire (FT.com)
* Fed Mulls New Bond Approach (WSJ)
* Brazil warns of world currency war (Telegraph)
* Japan Said to Consider Up to $55 Billion Extra Stimulus (Bloomberg)
The Event Agenda

Afternoon Run-Down
The Fed’s statement last week has markets stirring, as it clearly confirmed its willingness to embark on more QE, [...]

{ 1 comment }

Key News
* Kan victory sends yen to 15-year high (FT.com)
* German Investor Confidence Fell to 19-Month Low in September (Bloomberg)
* S&P says Japan govt credit quality is "slowly sinking" (Reuters)
* ECB bond buying signals new strains (FT.com)
The Event Agenda

Afternoon Run-Down
The appearance of the “risk-on” trade has been the growing bias in recent trading sessions. In [...]

{ 1 comment }