The dollar was at three-month high on Friday and world shares headed for their fifth of six weeks of gains, ahead of U.S. jobs data expected to nudge the Federal Reserve towards its first interest rate hike in almost a decade.
Bets on a December Fed hike are very much back on following the U.S. central bank’s last meeting and the dollar’s .DXY strength, combined with the highest 2-year U.S. government bond yields US2YT=RR since 2011 showed there were high hopes for the jobs numbers.
Jeffrey Gundlach says this stock market can’t handle and won’t handle an interest-rate hike in December.
La production industrielle allemande a reculé de 1,1% en septembre après avoir déjà baissé de 0,6% (contre -1,2% annoncé initialement) le mois précédent. Le consensus tablait sur une hausse de 0,5%
[Bloomberg] China’s Bonds Set for Worst Week Since May as PBOC Seen on Hold
[Bloomberg] China October Auto Sales Up 11% After Tax Cut Boosts Demand
[Reuters] Asia shares falter as markets await Fed policy clues from job data
[NYT] New York Fed Chief Calls for Improved Wall Street Culture.
[Bloomberg] Emerging Market Currencies Slide on Fed Bets; U.S. Stocks Mixed
[Bloomberg] Bonds Tumble Around the Globe as Fed Rate Odds Climb Past 50%
[Bloomberg] Illinois Faces Millions in Extra Debt Costs From Budget Fiasco
[AP] Fannie Mae posts $2B profit for 3Q; paying $2.2B dividend
[Bloomberg] Is Europe’s Economy So Bad the ECB Will Run Out of Things to Buy?
[Bloomberg] BOJ Survey Data Reveals Signs of Growing Inequality in Japan
[WSJ, Spence and Warsh] A Little Humility, Please, Mr. Summers
[Reuters] Bomb by Islamic State likely caused Russian plane crash: security sources