Most importantly, I hope you, your family and friends are safe as anything we missed in the global market the past two days is irrelevant in comparison. This said, what did come out was the following: BoJ increased QE by 11T, about in line with expectations of 10T and added another lending facility that is unlimited at a rate of .1%. India’s RBI cut RR by 25 bps but didn’t reduce interest rates. Economic confidence in the euro zone in Oct fell to the lowest since July ’09, German unemployment rose more than expected, German retail sales were better m/o/m, French consumer spending was in line and euro zone CPI was up 2.5%. Also, UK consumer confidence fell to a 6 month low. In the US, the MBA said refi apps fell 6% to an 8 week low, notwithstanding the Fed’s best attempts. Purchases, after falling 8.3% last week, was up just .5%. The Oct Dallas mfr’g survey was 1.8 vs est of zero. The S&P/CS home price index rose to the highest since Nov ’10 seasonally adjusted, in line. Personal Spending in Sept, mostly reflected in last week’s GDP report, rose .8% vs est of up .6. as the Savings Rate fell to 3.3% from 3.7% with Income up .4% m/o/m. On a REAL basis, Income was flat and spending was up .4%. Bottom line, there was nothing in the data that was hugely market moving. Earnings, Friday’s Payroll figure and the election are the focus of all.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.