ASIA: Mixed, with wild news out of Japan. Japan’s central bank outlined plans for asset buying. In addition to the purchase of 3.5 trillion yen-worth of short- and long-term government securities, the bank also said it would buy lower-rated corporate debt, and accelerated a deadline to decide on buying ETFs and REITs. Indeed, we live in interesting times, and Japanese government bonds rallied on the news that the government has their back. The yen is at 81.3 per U.S. dollar, having strengthened slightly.ANZ bank reported strong profits, helping Australia’s ASX 200 index jump 0.7%. ANZ itself was up 2.9%. Agricultural Bank of China beat expectations and rose nearly 1.5% in Shanghai. Nintendo reported a loss.
Andy Xie’s latest is to urge emerging markets to throw free market economics to the wind and engage capital controls, because the hot money inflow will soon go ‘from boiling to molten.’
EUROPE: Is rising with England in the lead. Royal Dutch Shell is rising after reporting earnings. France Telecom beat expectations and is up a healthy 2% so far. It turns out that Spain has slashed its budget deficit by a whopping 42% in the first nine months of 2010.
Don’t forget however that Greece’s 10-year yield broke above 10% again on concerns that austerity measures would be watered down due to politics. It remains there today, at 10.3%.
MACRO: The euro is taking back some of its recent losses. It’s a dollar-down day, with everything else up.
U.S. FUTURES: Are fighting for a positive open. Watch for jobless claims at 8:30 AM ET, and Exxon (XOM) plus Microsoft (MSFT) earnings.