Weekly Market Review – ZH
Dow
Dumps Into Red For October - Banks Bruised, Semis Smashed, FANGs FUBAR
What Happened This Week in the World Economy – BB
U.S.,
Canada, Mexico notch trade deal while China drama rises * Growing prospects for
pricier oil keep some economies on edge
Take Five: World
markets themes for the week ahead – Reuters
EcoWeek – BNP
PARIBAS
Recent
indicators point towards ongoing strong US growth. The non-manufacturing ISM
index has caused a jump in treasury yields: data-dependent forward guidance
implies that investors expect the Fed will not remain passive when data are
particularly strong. Global growth outside the US is slowing yet higher US
yields have been mimicked across the globe. The dollar has also strengthened
which is unwelcome news for corporates in developing economies which carry a
lot of debt in USD.
Week Ahead: A
Bolognese full of “Erdoganish” deficit signals – Nordea
Italian
turmoil has hit European risk appetite this week, while Chair Powell once again
lifted US bond yields. The 10yr treasury yield now trades around 3.20% - a
substantial break of the post-1984 downtrend. Global risk appetite is at a
cross roads.
Weekly Focus:
Italian Reprise
– Danske
Bank
Italy’s
ongoing budget fight and the risk of a new debt crisis looms, Oct 15 is the
next deadline * US CPI to climb to 2.3%, Fed speeches
Strategy: Stagflation? – Danske
Bank
Global
growth is slowing but inflation pressure is rising * US bond yields at new high
* Italy reignites debt crisis fears * Trump closes deal with Canada and Mexico
but likely to escalate versus China
Global Week Ahead – Scotiabank
US:
Another CPI inflation report, the start of the Q3 earnings season and even more
Fed-speak will be the coming week’s main focal points * Italian politics and
fiscal policy risks are likely to continue to impact markets over the coming
week while most of the central bank focused developments will be in the UK
Weekly Market
Outlook
– Moody’s
Equities
Suggest Latest Climb by Treasury Yields Is Excessive
Macro Weekly – ABN
AMRO
US
economic data continues to be strong * Fed change of tone * German orders
provide some relief, in the detail * Italian and Brexit risks in Europe * PMIs
in Asia cannot impress
Weekly Market
Comment
– Marc
Chandler
Beware: Dollar's Technical Condition is Stretched,
Lookout for Reversals
Weekly Macro Comment – Marc
Chandler
Has
an Inflection Point been Reached for Investors?
FX Weekly – Nordea
It
is too early to expect any Di-Maio’nnaise for your EURs, but the main culprit
is not Italy. The re-steepening of the USD curve and the shrinking excess USD
liquidity are to blame for the strong USD. The USD will not peak before
mid-November.
G10 FX week ahead:
Turning into a bloodbath – ING
The
global bond market rout has turned into a global stock market rout - which
means no rest for the wicked FX markets. All the trade war noise from the IMF's
World Economic Outlook and expected global growth downgrade will also be
unhelpful. Watch for how the PBoC fixes USD/CNY after the Golden Week holiday -
anything close to 6.90 would be another negative