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• Scuttled deals worth $580 billion put hedge funds on back foot (Reuters)
• Mounting Pressure on OPEC Spurs More Wagers on Oil Rally (BBG)
• It's not just US real estate: Chinese Students at U.S. Universities Jump 75% in Three Years (BBG)
• Frankfurt Open for Yuan Clearing as Liquidity Rises (BBG)
• Obama defends healthcare law after adviser criticism (Reuters)
• Michael Hasenstab Bets Big in Controversial Places (WSJ)
• Facebook seeks foothold in your office (FT)
• Russia Seen as Greatest Threat in Poll as Oil Erodes Putin Power (BBG)
• Falling Oil Prices Test OPEC Unity (WSJ)

• "The hate us for our..." Americans’ Cellphones Targeted in Secret U.S. Spy Program (WSJ)
• Ukraine and Russia take center stage as leaders gather for G20 (Reuters)
• Moscow and Kiev trade accusations; U.S. warns Russia against escalation (Reuters)
• Heartland Central Banker Calls Asset Bubbles Top Concern (BBG)
• U.S. Said to Give Banks December Deadline in FX Probe (BBG)
• Series of Failures Enabled White House Breach, Report Finds (WSJ)
• Yen plumbs seven-year trough on likely Japan sales tax delay (Reuters)
• JPMorgan Chase Bankers Said to Lead Moscow Departure (BBG)

• Moar central banks! Asian Stocks Rise Amid Stimulus Speculation; Topix Jumps (BBG)
• Syria rebels in south emerge as West's last hope as moderates crushed elsewhere (Reuters)
• Bufett's Berkshire to Buy Duracell Business From Procter & Gamble in $3B Deal (AP)
• Weak Demand, Real-Estate Slump Signal Headwinds for China (WSJ)
• China Slowdown Deepens as Leaders Said to Mull Cutting Target (BBG)
• Saudis Reject Talk of OPEC Market Share War as Oil Slides (BBG)
• Oil Tankers Stream Toward China as Price Drop Sparks Boom (BBG)

• Banks to Pay $3.3 Billion in FX-Manipulation Probe (BBG)
• Symbolic being the key word: U.S., China sign symbolic emissions plan, play down rivalry (Reuters)
• Europe (so really Russian sanctions) is the new "snow in the winter" - Carney Sees Europe Stagnation Impact as Growth Outlook Cut (BBG)
• Eurozone Industrial Output Points to Weak Third Quarter Growth (WSJ)
• Not everyone around Abe is insane: Kuroda Ally Flags Warning on Delaying Sales-Tax Increase (BBG)
• Hong Kong to scrap daily yuan conversion limit to boost stock investment (Reuters)
• Barclays Falls After FX Settlement Delay Reduces Discount (BBG)
• Some unhappy Yahoo investors asking AOL for rescue (Reuters)

"We are all wrong so often that it amazes me that we can have any conviction at all over the direction of things to come. But we must." - Cramer

"Seek not the favor of the multitude; it is seldom got by honest and lawful means. But seek the testimony of few; and number not voices, but weigh them." - Immanuel Kant

• Doctor with Ebola in New York hospital after return from Guinea (Reuters)
• Ebola Puts Spotlight on Bellevue, Key NYC Trauma Center (WSJ)
• Uber Driver Transported Ebola-Positive Doctor in New York (BBG)
• GOP Gains in Key Senate Races as Gender Gap Narrows (WSJ)
• ECB Tries for Third Time Lucky in European Stress Tests (BBG)
• Security tight in Canada as police probe Parliament gunman's ties (Reuters)
• Why Madrid's poor fear Goldman Sachs and Blackstone (Reuters)
• Fed’s $4 Trillion Holdings Keep Boosting Growth Beyond End of QE (BBG)

"For the third quarter of 2014, revenue from the Cable Networks segment increased 0.7% to $2.3 billion compared to $2.2 billion in the third quarter of 2013, reflecting a 5.1% increase in distribution revenue, partially offset by a 4.6% decline in advertising revenue, primarily due to a decline in ratings."

Perhaps the most interesting question from late yesterday is just how did the Chinese PMI rebound from 50.4 to 50.2, when the bulk of its most important forward-looking components, New Orders, Output, New Export Orders, posted a material deterioration? When asked, not even Markit could provide an explanation that seemed remotely reasonable so we can only assume the headline was goalseeked purely for the kneejerk reaction benefit of various algos that only focus on the headline and nothing else. Luckily, we didn't have much time to ponder this quandary as a few hours later we got the latest batch of Eurozone PMI numbers.

"So bye bye to my piece of the pie... I poured my paycheck into the Russell, Now my cash account's dry...  It's just one month from a new all-time high, And now we're right back where we were in July..."

• Apple CEO Cook Goes From Record Sales to IPhone Stumbles (BBG)
• Deal With Saudis Paved Way for Syrian Airstrikes (WSJ)
• Drone delivery: DHL 'parcelcopter' flies to German isle (Reuters)
• Tory Burch Hires Ralph Lauren Veteran as Co-CEO (WSJ)
• Apple releases iOS 8 workaround to fix dropped cell service (Reuters)
• Ukraine Probes Ex-Minister Over $3 Billion Russian Bond (BBG)
• Goldman Sachs-Led Group Near Deal to Buy Messaging Startup Perzo (WSJ)
• U.K. Seeks to Criminalize Manipulation of 7 Benchmarks (BBG)

Onehawk down, and just as rates are supposedly set to begin rising. Smart.

• British PM begs Scots: Don't rip apart our UK 'family of nations' (Reuters)
• Obama has become Bush: Obama’s Task: Rally U.S. Public, Allies in Terror Fight (BBG)
• Alibaba's record IPO covered after first few roadshow meetings (Reuters)
• Ferrari chairman Luca Di Montezemolo to quit after 23 years (BBC)
• Combat Reversals Pressure Assad (WSJ)
• Top LBO Fund Investors Pile on Leverage to Boost Returns (BBG)
• BOJ's Iwata upbeat on economy, unfazed by post-tax hike slump (Reuters)
• Carney Can’t Escape Housing as Debt Colors BOE Policy (BBG)
• Detroit Clears Crucial Hurdle on Bankruptcy (NYT)

• Scotland split jitters send sterling to 10-month low (Reuters)
• S&P 500 Beating World Most Since 1969 Doesn’t Spark Flows (BBG)
• Happy ending guaranteed: Vietnam building deterrent against China in disputed seas with submarines (Reuters)
• China Posts Record Surplus as Exports-Imports Diverge (Bloomberg)
• Russia, U.S. to hold talks on 1987 arms accord (Reuters)
• Halcon’s Wilson Drills More Debt Than Oil in Shale Bet (BBG)
• Deadly Disappointment Awaits at Ebola Clinics Due to Lack of Space (WSJ)
• Latinos furious at Obama on immigration delay, vow more pressure (Reuters)
• Japan GDP Shrinks at Fastest Pace in More Than Five Years (WSJ)

• Confusion as Ukraine and Russia announce progress towards peace (Reuters)... but not for stock buying algos, they know everything
• Obama Expresses Skepticism About Possible Ukraine Cease-Fire (WSJ)
• Fighters Unwind in Russia Where Beer Doesn’t Spell Death (BBG)
• Despite dangers, U.S. journalist Sotloff was determined to record Arab Spring's human toll (Reuters)
• New Beheading Video Spurs Calls for Global Response (BBG)
• Christie’s Spending on Outside Lawyers Passes $50 Million (BBG)
• IEX to Apply for Exchange Status (WSJ)
• UK says not ruling out airstrikes against Islamic State, says hostage video genuine (Reuters)

• That will teach the UAE who's boss: U.S. Won’t Consult Syria on Militant Strikes: White House (BBG)
• Putin Set to Meet Poroshenko as Ukraine Tensions Escalate (BBG)... but the de-escalation algo?
• Tim Hortons’ Canadian Fans Squeamish of American Hookup (BBG)
• Israeli air strikes target more Gaza high-rises (Reuters)
• How Steve Ballmer Became a Rookie Basketball Mogul (WSJ)
• Buffett to Help Finance Burger King Tax-Saving Deal (BBG)
• U.S. Factories Keep Losing Ground to Global Rivals (WSJ)
• Boehner, Camp Profit From Corporate Bid to Avoid U.S. Tax (BBG)
• Experimental U.S. hypersonic weapon destroyed seconds after launch (Reuters)
• The Neo-Neocons (WSJ)