Find here our morning brief which compiled the main macro news — released on Twitter — concerning Americas, Asia and Europe.
Israel Latest
Geopolitics
Israel's military says its troops have entirely encircled Gaza City https://t.co/k9gFfpgmTI
— Bloomberg (@business) November 6, 2023
Follow the latest updates from the Israel-Hamas war https://t.co/Hy49iAJPxp
— Bloomberg Economics (@economics) November 6, 2023
US Secretary of State Antony Blinken is trying to build support among Israel’s Middle Eastern neighbors to plan a postwar future for Gaza.
— POLITICOEurope (@POLITICOEurope) November 4, 2023
It follows Israeli Prime Minister Benjamin Netayahu’s rejection of the US’s calls for a humanitarian pause. https://t.co/SMKJbHd7Ie
Americas
Markets
Treasury cash go whoosh: $80BN just entered the system
— zerohedge (@zerohedge) November 3, 2023
Thank you Bills, TBAC and Reverse repo pic.twitter.com/AIKUDODQ3L
1. Dealer gamma turns deeply positive
— zerohedge (@zerohedge) November 3, 2023
2. $5BN in daily buybacks until mid-Dec
3. CTAs buying up to $200BN in global stocks over next month
4. Hedge Funds least net long since 2011
5. Seasonals pic.twitter.com/Rv3U1HLGHx
Last week the number of NASDAQ stocks above their 20-day moving average went from below 20% to nearly 60%
— Markets & Mayhem (@Mayhem4Markets) November 6, 2023
This was one of the sharpest thrusts higher in this measure of breadth during all of 2023 pic.twitter.com/NAi0NVRVQR
#HedgeFunds Catapulted Treasury Shorts to Record at Wrong Time – Bloomberghttps://t.co/0p7KJ7btFX pic.twitter.com/A55v7ENKdt
— Christophe Barraud (@C_Barraud) November 6, 2023
Economic Indicators and Prospects
ISM Services falls from 53.6 to 51.8 in October, as the services industry sees slowing growth
— Markets & Mayhem (@Mayhem4Markets) November 3, 2023
The forecast was for 53
Business activity, employment, supplier deliveries and inventories showed signs of slowing
New orders saw a bit of an acceleration
Prices continued to rise pic.twitter.com/KQLKp4kxPk
NACM US Credit Managers Survey: Respondents continue to note the financial stress of their customers, asking for term extensions, falling behind on payments and asking for more credit than is warranted
— Viraj Patel (@VPatelFX) November 3, 2023
Buckle Up. Winter is coming $USD pic.twitter.com/ikDMyEg98g
*Employment Report
US Jobs Data Show Broad Cooling After Run of Surprise Strength – Bloomberghttps://t.co/3hhHQoVwf6 pic.twitter.com/yID5bAZDLX
— Christophe Barraud (@C_Barraud) November 3, 2023
Comments on October Employment Report https://t.co/jKAKt3M8Kr pic.twitter.com/YXK3MmHvG8
— Bill McBride (@calculatedrisk) November 3, 2023
The index of aggregate weekly payrolls for private-sector workers, which combines hiring, wages, and hours, slowed in October as wages cooled and hours worked declined
— Nick Timiraos (@NickTimiraos) November 3, 2023
The index is up 5% over the last year (lowest since March 2021) and 4.6% at a three-month annualized rate pic.twitter.com/A7PWeLfjnI
Record Number Of Multiple Jobholders: A Closer Looks Inside The Horrific October Jobs Report https://t.co/5y2wbZDS77
— zerohedge (@zerohedge) November 3, 2023
Canada's economy added 17,500 new jobs last month, slightly lower than what economists were expecting, and not enough to stop the jobless rate from inching up to 5.7 per cent, because more people joined the work force. https://t.co/t6ikWyrMGs
— CBC News (@CBCNews) November 3, 2023
Housing
Lawler: Single-Family Rent Results
— Bill McBride (@calculatedrisk) November 3, 2023
Invitation Homes, and AMH (American Homes 4 Rent) https://t.co/TQIABQWsiZ pic.twitter.com/tjHqhaK7m6
Monetary Policy
Atlanta Fed President Raphael Bostic said policymakers have time to watch how the economy is evolving and be patient when it comes to interest-rate moves https://t.co/eZGFwHUTBP
— Bloomberg Economics (@economics) November 3, 2023
Fiscal Policy
Speaker Mike Johnson aimed to pass all 12 funding bills this month. At least one is probably not happening, according to its author. https://t.co/92CKdtTXbd via @politico
— Donald Pedersen (@DonaldP28785881) November 4, 2023
Trade, Politics and Geopolitics
Trudeau in D.C. to talk hemispheric trade, migration at White House summit. Click on the image below to read more ↓ https://t.co/2dP3ziaBRk
— BNN Bloomberg (@BNNBloomberg) November 3, 2023
Asia
Markets
South Korea will prohibit stock short-selling from Monday until June 2024 to allow regulators to “actively” improve rules and systems, the Financial Services Commission said Sunday.https://t.co/m9yOqzGFvY
— CN Wire (@Sino_Market) November 5, 2023
The intraday transaction volume of the stock markets in Shanghai and Shenzhen hits 1 trillion yuan today.
— CN Wire (@Sino_Market) November 6, 2023
*The first time above 1 tln yuan since August 29, a sign of market sentiment improvement.#China $SHCOMP #stockmarket $ASHR $HSI $KWEB $FXI $HXC
Economic Indicators and Prospects
#China industry minister: industrial economy stabilises, NEV shines in Jan-Sept period – Reuters
— Christophe Barraud (@C_Barraud) November 6, 2023
https://t.co/5v6KyiRcdh
Outflows of foreign direct investment in China have exceeded inflows for the first time. Looking at foreign investment in the semiconductor field by destination, China's share has already shrunk from 48% in 2018 to 1% in 2022.https://t.co/SfusJM804U
— Nikkei Asia (@NikkeiAsia) November 5, 2023
Housing
#CN_UPDATE
— CN Wire (@Sino_Market) November 6, 2023
The online meeting will be held at 4:00PM on Monday, Beijing Time.(GMT+8)#China #Vanke #property https://t.co/P3lIuJamnL
Chinese #property developers stage strong rally in HK with CIFI and China Evergrande surging nearly 20% at one point.
— YUAN TALKS (@YuanTalks) November 6, 2023
THE WIRE https://t.co/MHWSa5s1sv https://t.co/F4BWe7L84W pic.twitter.com/Y28dwuz4UN
Monetary Policy
BoJ Ueda Signals Chance For End Of Negative Rate In 2023 Is Low – BBGhttps://t.co/00rGPXXG9G
— LiveSquawk (@LiveSquawk) November 6, 2023
The BOJ has begun loosening its control over the nation's bond market, gradually allowing the private-sector to determine prices. But the issuance of government bonds is not subsiding, creating the risk of an unexpected increase in interest rates.https://t.co/a9kAr1enie
— Nikkei Asia (@NikkeiAsia) November 5, 2023
PBOC conducted 18 billion yuan of the 7-day RRP on Monday. A total 640 of billion yuan will be drained from the market on a net basis as 658 billion yuan comes due today.#China #liquidity https://t.co/8UsYATPwDI
— CN Wire (@Sino_Market) November 6, 2023
Trade, Politics and Geopolitics
The talks between India and Canada for a free trade deal are on a pause as the latter stopped discussions due to some misconceptions, India’s trade minister said https://t.co/xvgpO3cIx3
— Bloomberg Markets (@markets) November 4, 2023
Australian PM Albanese: convinced to build a constructive relationship with China.
— CN Wire (@Sino_Market) November 6, 2023
Europe
Economic Indicators and Prospects
German Factory Orders (M/M) Sep: 0.2% (est -1.5%; prev 3.9%)
— LiveSquawk (@LiveSquawk) November 6, 2023
– Factory Orders WDA (Y/Y) Sep: -4.3% (est -3.0%; prev -4.2%)
Housing
UK developers are offering sweeteners to 1 in 5 home buyers https://t.co/2kBvxje8e0 via @_DamianShepherd pic.twitter.com/usxRwM4DAj
— Zoe Schneeweiss (@ZSchneeweiss) November 6, 2023
Monetary Policy
BOE Chief Economist Pill says the surge in UK pay spurs inflation risk https://t.co/WONyYgmS16 via @rvlandberg @LucyGJWhite pic.twitter.com/mbEPkuzyJT
— Zoe Schneeweiss (@ZSchneeweiss) November 5, 2023
Fiscal Policy
The EU is seeking an elusive deal on budget discipline https://t.co/57aox8NSUD via @europressos pic.twitter.com/bOAFazRr8B
— Zoe Schneeweiss (@ZSchneeweiss) November 6, 2023
Olaf Scholz’s Social Democrats have drafted economic proposals, including a government fund to promote investment and a temporary “crisis levy” on the richest Germans, that seek to create 1 million new jobs by 2030, the RND media group reports https://t.co/8POXjAmHzL pic.twitter.com/jTOWgq6z0y
— Zoe Schneeweiss (@ZSchneeweiss) November 6, 2023
Italy is facing billions in damages from flooding and wild weather https://t.co/y3GCBkQrNB via @chiaraalbanese pic.twitter.com/fQym6fkc8u
— Zoe Schneeweiss (@ZSchneeweiss) November 5, 2023
UK Industry Calls On Hunt To Cut Business Taxes To Spur Growth – BBGhttps://t.co/pMawjsrZXJ
— LiveSquawk (@LiveSquawk) November 6, 2023
Trade, Politics and Geopolitics
The far right is on the rise in Germany and Scholz has no answer https://t.co/AJ8UaRlMgf via @chrishreiter @WillWilkesNews @mcnienaber pic.twitter.com/S0M7PPxURB
— Zoe Schneeweiss (@ZSchneeweiss) November 5, 2023
#EUPolitics: #Spain's Socialists win backing of #Catalan separatist #ERC, still waiting on #Junts | Reutershttps://t.co/9QtCU1S8YU
— PubAffairs EU News & Debates (@PubAffairsEU) November 3, 2023
Other Areas And Global Economy
#WeekAhead Preview: Week 45 (2023)
— Christophe Barraud (@C_Barraud) November 5, 2023
U.S. Senior Loan Officer Opinion Survey
Powell, Lagarde Remarks and Other Central Banks’ Speeches
#BOC and #BOJ Minutes
Chinese Data
…https://t.co/6HoHDEp6Ol
Top 10 Macro/Financial Charts of the Week – w44 (2023)
— Christophe Barraud (@C_Barraud) November 5, 2023
*HT @Mayhem4Markets, @zerohedge, @matthew_miskin, @JavierBlas#Bonds, #Employment, #Housing, #Food, #Centralbankshttps://t.co/QKJmBzrNvZ
Saudi Arabia and Russia reaffirmed that they will stick with oil supply curbs of more than 1 million barrels a day until the end of the year https://t.co/JDNq1l4sfd
— Bloomberg Markets (@markets) November 5, 2023
*Note: Previous briefs can be found here
