Photo: Wikimedia common
Kind of an interesting morning in Asia, with some notable global macro headlines.Will bullet the key ideas.
- The tone is “risk on” moderately. Japan is up 0.5%. Australia is up 0.2%. Korea is up 1.05%.
- Reports that QEIII is now on the table at the Fed is seen as giving markets a boost. It’s also weakening the dollar against all the other big currencies.
- Chicago Fed President Charles Evans is calling for more easing. He’s a major dove, so that’s not a huge shock.
- Moody’s has downgraded Australian and German banks. Deutsche Bank is spared for now.
- The influential China Securities Journal is calling for more rate cuts in China, according to Bloomberg.
Bottom line: Modest risk on, dollar weaker.
All eyes on the ECB tomorrow morning.
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