Economic Data
(ZA) South Africa Sept Private Sector Credit Y/Y: 9.1% v 8.3%e; M3 Money Supply Y/Y: 7.5% v 8.0%e
(FI) Finland Oct Business Confidence: -11 v -6e; Consumer Confidence:-1.6 v +3.0e
(DE) Germany Oct CPI Saxony M/M: 0.1% v 0.2% prior; Y/Y: 2.0% v 2.0% prior
(ES) Spain Sept Adjusted Real Retail Sales Y/Y; -10.9% v -6.2%e; Real Retail Sales Y/Y: -12.6% v -2.0% prior
(EU) ECB: €316M borrowed in overnight loan facility €527M prior; €267.0B parked in deposit facility vs. €248.5B prior
(SE) Sweden Sept Retail Sales M/M: 1.7% v 0.4%e; Y/Y: 4.6% v 2.5%e
(DE) Germany Oct CPI Brandenburg M/M: 0.1% v 0.2% prior; Y/Y: 1.9% v 1.9% prior
(UK) Sept Net Consumer Credit: £1.2B v £0.1Be; Net Lending: £ v £0.5Be
(UK) Sept Mortgage Approvals: 50.0K v 48.7Ke
(UK) Sept M4 Money Supply M/M: 0.2% v 0.3%e; Y/Y: -3.5 v -4.0% prior; M4 Ex IOFCs 3M Annualized: 7.4% v 5.9%e
(DE) Germany Oct CPI North Rhine Westphalia M/M: 0.0% v 0.0% prior; Y/Y: 1.9 v 1.9% prior
Fixed Income:
(IT) Italy Debt Agency (Tesoro) sold €8.0B vs. €8.0B indicated in 6-month Bills; Avg Yield 1.347% v 1.503% prior; Bid-to-cover: 1.52x v 1.39x prior
SPEAKERS/FIXED INCOME/FX/COMMODITIES/ERRATUM
Notes/Observations
Hurricane Sandy closes all US equity markets on Monday and possible into Tuesday
BoE's Dale warned that the UK economy will weaken after the Q3 pop aided by the Olympics
Chinese State Researcher: China initiative to cut its Reserve Requirement Ratio (RRR) greatly reduced; CNY currency continued appreciation unlikely
ECB's Draghi said to have endorsed German Fin Min Schaeuble's idea for a "currency commissioner"
Troika inspectors said to demand that Greece carries out additional 150 reforms as part of a deal to extend its fiscal adjustment by 2 years
Japan Sept Retail Sales weaker than expectations ahead of BOJ policy decision
Spain Sept Retail Sales weaker than expected as VAT increase is implemented
Italy 6-month Bill yield the lowest since its March auction
Equities
Indices: FTSE 100 -0.5% at 5,780, DAX -0.4% at 7,200, CAC-40 -0.8% at 3,409, IBEX-35 -0.3% at 7,752, FTSE MIB -1.5% at 15,357, SMI -0.2% at 6,588, S&P 500 Futures -0.5% at 1,401
European bourses were under pressure on Monday with insurers in the limelight as Hurricane Sandy barreled today's towards the US Eastern seaboard. Peripheral Europe was again in focus as Greece appeared no closer to an agreement with its international creditors.