Photo: Courtesy of UBS
Dave Lutz of Stifel, Nicolaus sends along the topics about which he is chatting with clients.We summarize in bullet points.
- Markets a touch higher, but some stress still in EU bonds.
- Solid Chinese PMI.
- Copper breaking 4-day losing streak.
- Eurozone PMI, German business sentiment: Bad.
- Looks like Greece is getting 2-more views.
- ‘ James Grant: ‘Interest Rates Have Fallen And They Can’t Get Up’
- Big Dow drops.
- Odds rise of an Obama defeat.
And from Michael Block at Phoenix Partners:
- Implied Correlations spiked yesterday but in general the trend has reset lower. The alpha is BACK, baby!
- FOMC today at 2:15PM. Consensus is that unlimited QE gets $45B in Treasuries, but not until the December meeting. Today, hints of it may be enough.
- AAPL tomorrow night – can it regain leadership for itself and tech despite Mini cannibalization fears?
- DOW cutting jobs and closing sites. The real growth story for industrials, chemicals, and materials is not working.
- European PMIs awful and going the wrong way. IFO also misses. Europe still the loser here and Spanish bailout is on the side of a milk carton.
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