Recap 10-10-13




  • European bank stocks are at a two-year high,
  • The ECB will open swap lines with the PBOC giving them access to 350bn yuan ($57bn) while the China will be able to tap 45bn euro ($60bn).
  • The BOE left rates unchanged at 0.50%, as expected. The asset purchase program was also unchanged.
  • US Jobless Claims jumped 66k to 374k last week. BLS said that 33k was due to California System issues, 15k was related to the shutdown.
  • Australia Employment rose 9.1k vs 15k exp. The Unemployment rate dropped to 5.6% vs 5.8% exp and prev as a result of a lower participation rate.
  • Manhattan apartment rents fall for first time in 2 years; the median monthly rent fell 3.1% to $3,095; vacancy rates ticked up to 2.66% vs. 1.85% in September.


  • House will propose a 6 week debt limit extension. The White House indicated that it is open to it, although it will not negotiate further details until the government is reopened. Later in the day, there were reports that a deal to reopen the government may be in the works.
  • Republican party favorability sinks to a record low:

Upcoming Data:

  • Fri: Canada Employment, UMichigan Confidence, BoC Survey
  • Mon: US Holiday, China Trade Balance, AU Home Loans, China CPI, RBA Minutes
  • Tue: UK CPI, German Zew, Canada Existing Home Sales,