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ASIA: China and Japan surged. Shanghai opened after a long weekend, playing some catch up with other markets. China’s industrial profits over the period January – August rose 55% year over year according to the National Bureau of Statistics. Also, on Sunday China imposed anti-dumping duties on broiled chicken from the U.S., thus trade tensions with the U.S. remain elevated. The political situation with Japan hasn’t eased much either, with Japan now asking for financial compensation related to the latest ship-collision spat.Japan’s market was led by exporters as the central bank governor on Sunday said that the central bank was willing to take further measures to support the economy and was paying close attention to the yen in the currency market.
EUROPE: Rising slightly so far. U.K. housing prices fell the most in 18 months during September according to Hometrack, dropping 0.4% month on month. Irish government bond yields remain near record highs (6.45%) as the government is under pressure from the European Union to quantify the cost of any Anglo Irish bank bailout. They plan to do so this Friday, October 1st.
MACRO: Gold remains just a touch below $1,300. Oil is just a touch below $80.
U.S. MARKETS: Are rising so far.
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