Previously on
MoreLiver’s:
Roundups
News
roundup – Between
The Hedges
The 6am Cut
London – alphaville
/ FT
Emerging
Markets Headlines – beyondbrics
/ FT
Reference
Debt
crisis: live – The
Telegraph
The Euro
Crisis Blog – WSJ
FX Options
Analytics – Saxo
Bank
European
10yr Yields and Spreads – MTS indices
Economic
Calendar – Forexpros
MORNING BRIEFINGS
Purchasing
managers in the UK are expected to report a deeper
contraction in manufacturing output in October, while the same managers in the US are likely to offer a positive
assessment. However, employment growth in the US may moderate.
The new
month saw Asia’s eyes fixed on the flow of
manufacturing PMI data from across the region. China data was as, or slightly better
than expected, rising to 50.2 but had little bearing on risk appetite/currency
direction during the session.
European
markets are expected to open mostly higher Thursday. Markets are keeping an eye
on US economic and corporate releases due later today. Meanwhile, data already
released today indicated that Chinese manufacturing activity improved in
October.
Danske Daily – Danske
Bank (pdf)
Key news: US
stock markets ended flat on the first day of trading after hurricane Sandy * Obama and Romney are still neck-and-neck
in opinion polls * Chinese PMI rose in October – this has lifted Asian stock
markets this morning * The yen continues to weaken. Market movers today: Focus
on European PMIs and US * ISM – today’s Chinese PMI data give some reason for
optimism.
Aamukatsaus – Nordea (pdf)
Kiinan teollisuudessa piristyminen? * Neuvottelut Kreikan
kanssa jatkuvat – velkauran kestävyys huolenaihe * USA:n pitkät korot laskuun
markkinoiden auettua Sandy-myrskyn jäljiltä
Aamukatsaus – Tapiola
(pdf)
Markkinan suunta: Osakemarkkinat
avasivat tasaisesti USA:n pörssin avauduttua kahden päivän tauon jälkeen. Markkinoiden
näkemys Kiinan talouden hidastumisen pohjaamisesta sai tukea aamun
ostopäällikköindekseistä. Osakefutuurit nyt miinuksella, indikoiden
laskuavausta. Cramon kautta paremmin ja edullisemmin kiinni Cramon ja
Ramirentin Venäjän JV:een. 3Q12-tuloksia aamulla: Hyvät tulokset: Atria,
Fiskars, PKC Group. Heikot tulokset: Lemminkäinen.
Morning Briefing (EU/US): "It's the end of
the world as we know it and I feel fine" – BNY
Mellon
Evidence is slowly mounting of a shift in thinking in China.
Evidence is slowly mounting of a shift in thinking in China.
Markkinakalenteri – Nordnet
Markkinakalenteri – Taloussanomat
EUROPE
Morgan
Stanley: In our view, incoming data and anecdotal evidence would suggest that
4Q could be even worse than we had expected so far, and that the outright
contraction in headline GDP could also drag into the early part of next
year.
UNITED STATES
Goldman’s Scary Halloween Surprise – Sober
Look
The Goldman
Sachs Analyst Index (GSAI) hit a new post-recession low this month. The index
is a composite of corporate outlook by industry from Goldman's company
research.
ASIA
China: PMI
China’s recovery: alphabet soup – beyondbrics
/ FT
Manufacturing
PMIs confirm moderate recovery – Danske
Bank (pdf)
China: October PMIs highlights the
economy is at bottom – Nordea
HSBC/Markit
China manufacturing PMI points to 12 consecutive months of contraction – ASA
China PMIs
are stumbling upwards with mixed conviction – alphaville
/ FT