Investors appear to be at peace with full-blown expectations of this month's liftoff by the FOMC after the latest robust non-farm payrolls report data. US equities were broadly higher and treasuries sold off, even as the US dollar did not get a pronounced lift. Markets in Asia are also modestly higher in afternoon trade, led by Nikkei225 which is supported by lower JPY. Kospi is a laggard, while US equity futures are down marginally ahead of Monday open. In China, govt think tank State Information Center forecast 2016 GDP of at least 6.5%, CPI around 1.5%, fixed asset investment at 9%, and exports up about 1.5%. This is lower from 2015 targets of 7.0% GDP, 3% inflation, 15% investment and 6% exports. initial November data out of China will be released as soon as tomorrow starting with trade figures. Also of note out of China, the state council will reportedly allow local govt to include their property tax intake in revenue calculations so as to prop up their balance sheets. BOJ Gov Kuroda remained upbeat on the economy and the impact of monetary policy thus far, noting QQE is producing intended effects without financial imbalances. Kuroda also ruled out negative short-term rates.
Nikkei +0.99% Hang Seng +0.21% Shanghai +0.18%
Eur$ 1.0868 JPY 123.28 CNY 6.4077 GBP 1.5107 CHF 0.9982 RUB $68.48 WTI $39.62
S&P -0.06% EuroStoxx+1.17% Dax+0.98% SMI+0.74%
Macro :
- Draghi Says ECB Will Deploy Further Tools If Necessary
- Basel Said to Propose New Method for Banks Leverage Ratio: WSJ
- Japan expected to reduce planned FY15 bond issuance due to better than expected tax revenue growth - Nikkei - To trim FY15 govt bond issuance by approx ¥450B from the ¥36.9T planned- FY tax revenue now expected at ¥56.4T, about ¥1.9T more than forecast
- 27 Major Global Stocks Markets That Have Already Crashed By Double Digit Percentages In 2015 {http://bit.ly/1NbytSr}
- SocGen Says Buy Oil Now With Brent Seen at $60 Target End-2016
Keep an eye on :
- ABG/P SM : Abengoa Banks May Swap Part of Debt for Equity: Expansion
- AF FP : E.U. Set to Ease Limit on Foreign Investment in Airlines: FT
- AMUN FP : Amundi Interested in Buying Arca, Il Sole Reports
- AAPL US : 5th-generation volume Apple TV production to begin in Q1 - http://bit.ly/1IM62sl
- BMPS IM : Monte Paschi Had 3 Offers for Bad Loan Portfolio: Corriere
- CGG FP : CGG Proposes to Raise Up to EU350m in Rights Offer
- MLCMB FP : Compagnie du Mont-Blanc buys Societe des Remontees Mecaniques de Megeve for EUR 14m
- EDF FP : EDF Electric Sales to Be Below EU42/MWH Jan 1, France’s CRE Says
- ELEB BB : Electrabel CEO Says Belgian Nuclear Plants Could Close by 2025
- ENGI FP : Engie Belgian Spinoff Possible, CEO Mestrallet Says: L’Echo
- FAGR BB : Lucerne Capital Management Raises Fargon Short Position to 1.58%
- FER SM : Ferrovial Bid Is ‘Opportunistic’, Broadspectrum Investor Says
- FCA IM : Fiat Chrysler Delays Completion of Alfa Model Plan to 2020
- FNC IM : Finmeccanica rebuffs Boeing bid approach for Westland - THE SUNDAY TIMES
- GLEN LN : S. Africa Gupta Family Look at Buying Glencore Mine: City Press
- HOLN VX : Holcim Wants to Close 5 Cement Plants in Flanders: L’Echo
- IMT LN : Fitch Sees ‘Modest Respite’ for ‘16 Tobacco Makers’ Vol Pressure
- INW IM : Bids for Telecom Italia’s Inwit Expected by Dec. 18: Radiocor
- LHA GY : Jordanian Man Screaming He "Wants To Join Allah" Tries To Open Lufthansa Airplane Cabin Door In Midair
- EMG LN : Man Group Raised to Buy as Cash Surplus May Boost Earnings: Citi
- PBY US : Icahn discloses new 12.1% stake; plans to talk to management about possible synergies between PBY's retail segment to Icahn's Auto Plus - 13D filing
- RIO LN : Rio Tinto’s CEO Has Interest in Acquiring Copper Assets: AFR
- ROG LN : Roche Says Data Show Gazyva Patients Nearly 4 Yrs Treatment-Free
- RYA LN : Ryanair Cancels Some Flights on Irish, Italian Routes
- SAN FP : Sanofi Pasteur Wants to Renegotiate French Work Time: Echos
- TSM US : TSMC to post another double-digit revenue increase in 2016, says co-CEO
- FP FP : Total CEO Says Capex to Drop to $20b in 2016: Gulf Times
- UBI IM : UBI Said to Hire Credit Suisse, Morgan Stanley to Explore Deals
- VOW3 GY : VW Considering Ending Audi Q3 Production in Spain: Handelsblatt
- VOw3 GY : VW Denies Qatar Talks Sought to Curb Labor Role: Reuters