" Set to be yet another mixed day confined to the high volatility trendless trend."
Cross Market News
- US crude oil futures jumped back above $ 100. A number of analysts see this as the nail in the coffin of the global economy (similarities to the 2008 slump).
- UK consumer confidence fell to a record low in October as Europe's debt crisis and the unemployment outlook worsened. The index dropped to 36 vs. forecast 43 and 45 prior.
- A report from the ratings agency Fitch suggests that unless the Eurozone debt crisis is resolved in a timely and orderly manner, the broad credit outlook for the US banking industry could worsen.
- Nearly all of Germany's public-sector lenders were downgraded by Moody's on Wednesday night after the ratings company said it is less likely that the German government will step in with a bailout. The downgrades, which conclude a review begun in July, affect the senior debt and deposit ratings of 10 German banks, primarily the Landesbanks.
- More hints of QE from the BoE yesterday as the dovish Mervyn King forecasts 1.5% CPI in 2 years; however, the cross-atlantic data continue to diverge with the US prices actually deflating this month perhaps opening the door for US QE also.
No comments:
Post a Comment