Dave Lutz of Stifel, Nicolaus sends along the top topics about which he is chatting about with clients today.We summarize:
- Futures modestly reflating. Spanish regional elections a modest tailwind for the Euro.
- The datapoint that everyone’s watching this week: Chinese Flash PMI on Wednesday (will it confirm the green shoots talk?)
- Japan has its worth trade month in 30 years. Dispute with China turning into real hit.
- S&P warns on Japanese sovereign debt. More pressure on the yen.
- China’s Golden Week saw a big spending spree.
- Regional elections turn out good for Spanish PM Rajoy.
- Everyone’s talking about how central banks could just delete the government debt they’ve purchased via QE.
- Some Democrats have begun talking about extending the payroll tax cut. Could have possible ratings implications.
And from Michael Block of Phoenix Partners:
- Gate for Spanish bailout request now pushed back to November 25 and the Catalonian elections. This is getting ridiculous.
- EU Summit accomplished nothing. Next waste of time is November 22-23 unless Merkel cancels it in a snit.
- CAT predictably horrible. Let’s see how it trades.
- Barron’s doom and gloom on tech usually a good contrary indicator but lets see AAPL andAMZN Thursday, TXN tonight.
- Last debate tonight. This is closest race since 1960.
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