Frontrunning: November 14

  • Obama to China: Behave like "grown up" economy (Reuters)
  • President Hu: US woes not yuan-related (China Daily)
  • U.S. readies defenses against Europe spillover (Reuters)
  • Another one discovers that Gross is in fact net: Euro Risks Hit Banks (WSJ)
  • Global security trumps economics at APEC conference (Washington Post)
  • New Italian, Greek governments race to limit damage (Reuters)
  • Asia a priority for Canada after U.S. delays Keystone (Reuters)
  • All major economies headed for slowdowns: OECD (Reuters)
  • Japan Ends Recession as Quake Scars Heal; Outlook Dim (Guardian)
  • Bundesbank warns against intervention (FT)
  • Merkel to walk fine line on euro at party congress (Reuters)
  • Obama to China: Behave like "grown up" economy (Reuters)
  • Republican Gets Serious Look for Fed Board Spot (WSJ)

European economic highlights:

  • Eurozone Industrial Production w.d.a. for September 2.2% y/y – lower than expected. Consensus 3.5% y/y. Previous 5.3% y/y. Revised 6.0% y/y.
  • Eurozone Industrial Production s.a. for September -2.0% m/m - higher than expected. Consensus -2.3 % m/m. Previous 1.2% m/m. Revised 1.4% m/m.
  • France Current Account for September -€4.0B. Previous -€2.9B. Revised -€2.4B.
  • Switzerland Producer & Import Prices for October -0.2% m/m -1.8% y/y - higher than expected. Consensus -0.3% m/m -1.9% y/y. Previous -0.1% m/m  -2.0% y/y.