NEWS / Foreign Exchange

Treasury Market Preview

• *** ECONOMIC SCHEDULE ***
• No economic events scheduled today
• Fed??™s Bernanke to speak in Texas [13:40 et]
• *** EUROPEAN NEWS OVERNIGHT ***
• SP Sep Industrial Output wda: 0.6% v 0.9%e || Prior revised from 0.6% to 1.6%
• SP Sep Industrial Output nsa: -1.3% v 0.6% prior [lowest since April 2006] || Prior revised from 0.6% to 1.6%
• SP Oct Services PMI 52.5 v 52.4 prior
• IT Oct Services PMI 55.3v 54.3e
• FR Oct Services PMI 58.5 v 57.3e
• GE Oct Services PMI 55.1 v 54.9e
• EU Oct Final Services PMI: 55.8 v 55.6e
• EU Oct Final Composite PMI: 54.7 v 54.5e
• EU Sep Retail Sales: M/M 0.3% v 0.6%e || Prior revised from 0.1% to 0.0% |||| Y/Y 1.6% v 2.2%e || Prior revised from 1.0% to 0.8%
• EU Sep PPI: M/M 0.4% v 0.3%e || Y/Y 2.7% v 2.65e || Prior y/y revised from 1.7% to 1.8%
• GE Sep Factory Orders: M/M ??“2.5% v ??“0.3%e || Prior revised from 1.2% to 1.9% |||| Y/Y 1.1% v 6.2% || Prior revised from 4.0% to 4.5%
• BOE King: It will be several months before banks return to normal
• BOE King: Time is needed for banks to reveal sub-prime losses || The situation now is different fro August
• *** ASIAN NEWS OVERNIGHT ***
• JP sells ??99.9B in 2.40% 40-year bonds with a bid-to-cover of 5.02x || 21.17% of the bids were accepted at the highest yield of 2.435%.
• JP Sep Preliminary Leading Economic Index: 0.0% v 0.0%e
• JP Sep Preliminary Coincident Index: 66.7% v 66.7%e
• NZ Oct ANZ Commodity Price Index: 1.8% v 0.4% prior
• ID Indonesian Central Bank keeps rates on hold at 8.25% as expected
• Indonesian Central Bank: Notes that it is monitoring oil prices || Maintains its 2007 inflation forecast of 5% to 7%
• Japanese Financial Services Authority inspects all forex margin traders [Japanese Press]
• According to the Chairman of Hong Kong Exchanges, Hong Kong Exchange is preparing for mainland investors; No time frame given [wires]
• A PBoC official has urged easing entry requirements for the QFII scheme; Calls for shorter QFII fund remittance lockup [wires]
• JP MoF Nukaga: Must watch the global economy, stocks, and currencies
• JP MoF Nukaga: Japan is undecided on ending the capital gains tax
• SK KDI: The Korean economy is still growing despite the market turmoil [The KDI is the Korea Development Institute]
• SK KDI: Oil prices may fuel South Korean inflation
• SK KDI: Oil Prices may weigh on the Korean economy
• Alibaba.Com Shares more than double on their first trading day in Hong Kong [1688.hk]