Wednesday Morning Recap: Global Markets Mostly Trading Higher, No Huge Catalysts Today Though – Morning Notes

– Chinese markets reopened today after being closed for national holiday
– Recall that yday PBOC hiked rates, a move to which the Chinese markets are reacting positively, although some of the strength is probably attributed to being in catch up mode
– Shanghai Comp closed up 1.1%, Hang Seng up 60bps, and Nikkei down 30bps
– BOJ commenced a meeting that will last for two days
– European bourses were mixed, following lackluster data releases
– Swiss CPI came in higher than expected
– UK Industrial Production came in weaker than expected
– ECB and BOE schedule to meet tomorrow so European markets may continue to trade in a tight range as investors may not want to step in front of any commentary that may come out as a result of the meeting

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