Rex Tillerson Makes "Secret" Visit To Afghanistan

Cloaked in secrecy and under heavy security, Tillerson slipped out of the Qatari capital of Doha in the pre-dawn hours and flew a military plane into Afghanistan on Monday on the third leg of a trip that started in Saudi Arabia. Tillerson will visit Pakistan on Tuesday and India on Wednesday.

Oil Quality Issues Could Bankrupt Venezuela

The next few weeks for Venezuela will be crucial, as it could struggle to meet a huge stack of debt payments. Reports that the nation’s oil production is experiencing deteriorating quality raises a new cause for concern for the crumbling South American nation.

Key Events In The Coming Week: ECB Taper, Q3 GDP And Durables

The main even this week will be the ECB's taper announcement on Thursday where consensus expects the ECB to announce a QE extension of €30bn per month for 9 month until Sep-18, with potential extension after. Net purchases between now and Dec-17 will continue at €60bn per month as planned. To cope with rate hike expectations, the ECB is also expected to strengthen forward guidance.

Frontrunning: October 23

  • Trump Backs GOP Incumbents, Hinting at Bannon Conflict (WSJ)
  • Japan's Abe to push pacifist constitution reform after strong election win (Reuters)
  • Yellen Says Fed May Need to Use Unconventional Policy Again Some Day (WSJ)
  • Big money shies from booming bitcoin (Reuters)
  • This Big Tax Cut for ‘High Fliers’ Shows Why an Overhaul Is So Hard (BBG)

World Stocks At All Time Highs After Nikkei's Record Winning Streak; Euro Slides With Spain On Edge

In an otherwise quiet session, Sunday's convincing election victory for Japanese Prime Minister Shinzo Abe’s ruling coalition, which gave it another constitution-changing supermajority, pushed the Nikkei to the highest level since 1996, after a record 15 consecutive days of gains - the longest winning streak on record - and sent world stocks to new all-time highs on Monday.