Hard hitting global and local news
The Philly Fed Business Outlook Survey shows regional activity weakened with current indicators negative. The Six-Month Outlook brightened in what I believe is rampant over-optimism
Bruce Krasting notes Ben Bernanke Is Facing A Legacy Problem The surprise of the week was not the goofy ending to the cliff. It was the minutes from the Fed. The meeting in question took place on 12/12, just 23 days ago.
The Japanese election hands former prime minister Shinzo Abe a chance for redemption according to The Guardian .
Following many months of gloom – and seven consecutive quarters of declining growth – the Chinese stock markets are permitting themselves a frisson of excitement after China’s official manufacturing PMI rose to a seven-month high of 50.6 in November, from 50.2 in October. The higher PMI was propelled (unfortunately, I think) by a surge in construction activities
Read More: Stocks Rise on Can-Kicking Optimism; Leap of Faith Justified?
It’s tough to pin this all on Hurricane Sandy although many will try.
This morning Markit released Eurozone, France, and Germany preliminary PMI reports. All show further deterioration
The Telegraph headline IMF chief Christine Lagarde says US needs to rein in its banks is the illusion that briefly (very briefly) led me astray.
Fed to Deliver More Stimulus "Fairly Soon"; How Much Stimulus Does It Take? Sell the News Event Coming Up
Follow this link: Eurozone New Business Sinks at Fastest Rate in 3 Years; Germany Composite PMI at 37-Month Low; Ass-Backwards…