Frontrunning: November 1

Tyler Durden's picture
  • Here is why Europe is not screeching about EURUSD 1.40: Bernanke Greenmail - Fed Helping Spanish Debt Keeps ECB Mum on Dollar (Bloomberg)
  • More Mixed Signals: China cuts discount to mortgage rates (China Daily)
  • China Waves Magic Central Planning Wand and Manufacturing Posts Biggest Gain in Six Months (Bloomberg)
  • Dollar/yen Jump Short-Lived After Suspected Miss-Hit (Reuters)
  • White House Considering New Tax Cut Plan, Washington Post Says (Bloomberg)
  • Natural-Gas Futures Advance to Six-Week High as Heating Demand to Increase (Bloomberg)
  • China says no significant cut for rare earth quotas (Reuters)
  • Fed Risks Its Credibility on a Bowlful of Mush (Bloomberg)
  • Merkel reassured UK will back treaty change (FT)
  • Dilma Rousseff Becomes Brazil’s First Woman President (Latin Dispatch)
  • Angela Merkel consigns Ireland, Portugal and Spain to their fate (Telegraph, h/t Robert)
  • An EU treaty change is necessary but hazardous (FT)
  • Federal Reserve's, Bernanke's credibility on line with new move to boost economy (WaPo)
  • As U.S Pushes China On Currency, Small Manufacturers Say They're Already Hurting (WaPo)
  • Growing Pains for Hedge Funds and Their Staff (InstInv)
  • Money, Bubbles and Ersatzgold (Morgan Stanley)

Economic Highlights:

  • Norway PMI SA for October 54.2 - higher than expected. Consensus 52.8. Previous 53.1.
  • Switzerland SVME-Purchasing Managers Index for October 59.2 - lower than expected. Consensus 59.3. Previous 59.7.
  • Sweden Swedbank PMI Survey for October 61.8 - higher than expected.Consensus 61.3. Previous 63.3.
  • UK PMI Manufacturing for October 54.9 - higher than expected.Consensus 53.0. Previous 53.5.
  • UK Hometrack Housing Survey for October -0.9% m/m -0.1% y/y.Previous -0.4% m/m 1.0% y/y.
  • Australia AiG Performance of Manufacturing Index 49.4. Previous 47.3.
  • Australia TD Securities Inflation 0.3% m/m 3.8% y/y. Previous 0.1% m/m 0.2% y/y.
  • Australia House Price Index 0.1% q/q 11.5% y/y – higher than expected. Consensus 0.0% q/q 13.4% y/y. Previous 2.0% q/q 16.3% y/y.
  • Australia RBA Commodity Price Index 92.2. Previous 95.
  • Australia RBA Commodity Index SDR 46.0% y/y. Previous 52.4% y/y.
  • Japan Labor Cash Earnings 0.9% y/y – higher than expected. Consensus 0.5% y/y. Previous 0.4% y/y
  • Japan Vehicle Sales -26.7% y/y. Previous -4.1% y/y.