Recap 10-28-13

Commentary:

None

Notable:

  • Italy Business Confidence improved to 97.3 vs 96 exp and 96.6 prev
  • US Capacity Utilization rose to 78.3% vs 77.8% prev
  • Pending Home Sales growth declined to 1.1% YoY in Sept vs 3.6% exp and 2.9% prev
  • China industrial profits grew 18.4%oya in September, compared to 24.2%oya in August. Total industrial sales revenue increased by 11.0%oya ytd by September, slightly up from 10.9%oya ytd by August
  • Mortgage REITs remain under scrutiny – Fed officials are examining bank exposures to mortgage REITs (mREITs secure short-term funding from banks and use the money to purchase mortgage securities). Regulators are worried that a sharp rise in interest rates could result in an MBS fire sale – FT

Upcoming Data:

  • Mon: Japan Retail Trade, Overall Household Spending
  • Tue: Germany GfK Consumer Confidence, French Consumer Confidence, US Retail Sales, Consumer Confidence
  • Wed: US ADP Employment, CPI, FOMC, JapanPMI, UK GfK Consumer Confidence, Australia New Home Sales, Building Approvals
  • Thu: Month End, BoJ, Japan Housing Starts, EU Unemployment, CPI, Canada GDP, US Jobless Claims, Chicago PMI, AU PMI, China PMI
  • Fri: US ISM, Vehicle Sales,
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