Orlando, FL 11/10/11 (StreetBeat) --*Stocks in Asian trade were broadly lower. The Hang Seng was among the worst with a loss of 5.25%, the Nikkei fell almost three percent, Australia lost more than two percent and Shanghai fell 1.8%. European indexes are generally higher this morning, with the Dax up about one and a half percent and the Footsie better by a slight fraction. US stock futures are up more than one percent as I write.*The October reading of Australia’s Unemployment Rate was down one tenth from the month before to 5.2%, which is also one tenth better than forecast. The net change in employment was +10.1k, matching the estimate.
*Greece has named Lucas Papademos as their interim Prime Minister.
*Italian debt yields are sharply lower this morning, with the Ten Year down more than forty basis points at about 6.80%; Berlusconi’s days appear numbered as the lawmakers are set to vote through the austerity budget by the weekend, Italy was able to sell some one-year bills this morning and the ECB was in buying their debt.
*The final October reading of Germany’s Consumer Price Index was revised up by one tenth for the monthly reading, +0.1% and the annualized rate, +2.9%.
*The Bank of England stood pat on rates, 0.50% and their asset purchase program, at BP275 billion.
*There are three bits of data due out at 7:30am CST. The weekly report on Initial Jobless Claims is expected to be 400k; the September reading of the US Trade Balance is forecast to be a deficit of $46.0 billion; and the estimate for the October Import Price Index is unchanged from the month before. The Treasury is scheduled to release their October Monthly Budget Statement at 1:00pm CST; it is expected to be a deficit of $104.5 billion.
*The Chicago Fed is hosting an International Banking Conference today; it is set to begin at 8:00am CST and will include talks by Chicago Fed boss Evans and ECB board member Peter Praet. Also attending is Fed vice-chair Yellen who will speak around 12:15pm CST.
*The weekly report on Natural Gas inventories is due out at 9:30am CST; it is expected to show an increase of 31 bcf.
*The Fed is scheduled to buy Treasuries today that are due to mature between 11/15/21 and 2/15/31; the results of the operation will be announced just after 10:00am CST.
*Fed boss Bernanke is scheduled to speak with some soldiers and their families in El Paso, Texas at 11:00am CST. I don’t think he will break new ground at this event, but there is a question and answer session on the agenda.
*The Treasury plans to sell $16 billion 30 Year Bonds today; the auction results will be announced just after noon CST.
StreetBeat Disclaimer
No comments:
Post a Comment