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Analysis: EMU Construction Fell Further In Oct; Outlook Glum
EMU DATA: OCT CONSTRUCTION OUTPUT -1.4% M/M, -2.8%…
Eurozone Oct construction output fell -1.4% m/m, -2.8% y/y
Swiss name selling cable
Bundesbank: Still in talks about IMF loan with German govt
BOE’s Fisher: UK banks not as robust as BOE would like
BOE Fisher: Situation Maybe More Dangerous Than 2008 – 2
BOE Fisher: Situation Maybe More Dangerous Than 2008 – 1
Japan’s Noda; Need to ensure that Kim Jong Il’s death doesn’t have an adverse effect on stability in Korean peninsula
EU Finance Ministers To Discuss IMF, ESM Monday Afternoon
EMU DATA: OCT DIRECT+PORTFOLIO OUTFLOW E32.1BN; SEP..
Eurozone Oct non s/a current account balance 1.7 bln euros vs -0.7 bln in Sept
Noyer: Large-Scale Bond Purchases Beyond Scope of ECB Policy
ECB’s Weidmann: Germany Very Unlikely To Lose AAA Rating
S&P raises Mongolia outlook to positive from stable
ECB’s Noyer: Many complex factors interacting in current crisis
S.Korean FinMin: Short-term uncertainty will increase due to N.Korea risk
French Budget Minister: Hoping for rebound in growth
Spain awaits austerity steps
Bank of Korea may have sold around $500 mln to support won – Traders

Analysis: EMU Construction Fell Further In Oct; Outlook Glum

Posted:

October: -1.4% m/m, -2.8% y/y September: -1.5% m/m (revised from -1.3%) August: -0.2% m/m (revised from -0.4%) July: +1.7% m/m (revised from +2.1%) June: -1.3% m/m (revised from -1.2%) — PARIS (MNI) – Construction activity in the Eurozone contracted further in October to a ten-month low on declines in both building and civil engineering, Eurostat [...]

EMU DATA: OCT CONSTRUCTION OUTPUT -1.4% M/M, -2.8%…

Posted:

EMU DATA: OCT CONSTRUCTION OUTPUT -1.4% M/M, -2.8% Y/Y –EMU Sep construction output rev down -1.5% m/m (-1.3%) –EMU 3q const. output rev +0.3% q/q (+0.7%), 2q +0.1%, 1q +1.1% –EMU oct construction output -2.5% vs 3q avg; 3q +0.3% q/q –EMU 3mm avg const output (Aug-Oct vs Jul-Sep) -1.0% –EMU Oct structural const -1.2% [...]

Eurozone Oct construction output fell -1.4% m/m, -2.8% y/y

Posted:

Sep revised down to -1.5% m/m from -1.3%

Swiss name selling cable

Posted:

After the somewhat negative comments just now from BOE’s Fisher. Some support creeping in around 1.5480/85 ahead of the Asian lows around 1.5465. Some minor tech resistance seen up towards 1.5505/10, ahead of the o/n highs of 1.5545 We’re sitting at 1.5493

Bundesbank: Still in talks about IMF loan with German govt

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Sees no urgency regarding bilateral IMF loans Bilateral IMF loans not obligatory for members Willing to agree to bilateral IMF loan, but with conditions Conditions include IMF submits a formal request to govts IMF has not asked for a bilateral loan yet We’ve been here before……

BOE’s Fisher: UK banks not as robust as BOE would like

Posted:

Potential for things to get worse, see a chance of a disorderly outcome in Europe Euro area perpiphery has to improve its competitiveness Current situation potentially more dangerous than in 2008 Inflation will determine BOE’s stance on policy Deflation a bigger risk than Inflation staying high UK CPI expectations are well anchored Comments made by [...]

BOE Fisher: Situation Maybe More Dangerous Than 2008 – 2

Posted:

Markets have obviously also been keen to see a short-term liquidity boost in terms of ramped up European Central Bank bond buying but what they got was the ECB being prepared to lend a lot more, at term, to the banking system. He doesn’t think that there is an overt ECB strategy to get the [...]

BOE Fisher: Situation Maybe More Dangerous Than 2008 – 1

Posted:

By David Thomas LONDON (MNI) – The financial markets are now – in some important respects – facing a more dangerous predicament than in 2008-09, Bank of England Executive Director Markets Paul Fisher warns. “Most people in financial markets have not lived through an episode like this before,” Fisher told Market News in an interview. [...]

Japan’s Noda; Need to ensure that Kim Jong Il’s death doesn’t have an adverse effect on stability in Korean peninsula

Posted:

has agreed to exchange information and cooperate with S korean president Lee Myung Bak in a telephone conversation early today- S korean presidential website reports.

EU Finance Ministers To Discuss IMF, ESM Monday Afternoon

Posted:

BRUSSELS (MNI) – EU finance ministers on Monday will hold a teleconference to discuss how much individual member states are willing to contribute towards increasing the resources of the International Monetary Fund, and to consider an accelerated timetable for paying into the bloc’s future bailout facility, the European Financial Stability Mechanism. The teleconference is expected [...]

EMU DATA: OCT DIRECT+PORTFOLIO OUTFLOW E32.1BN; SEP..

Posted:

EMU DATA: OCT DIRECT+PORTFOLIO OUTFLOW E32.1BN; SEP INFLOW E13.0BN –EMU Oct direct invest outflow E7.4bn; Sep outflow E7.5bn –EMU Oct portfolio invest outflow E24.7bn; Sep inflow E20.5bn –EMU Oct equity invest outflow E0.2bn; Sep inflow E6.0bn –EMU Oct bond/note invest outflow E28.4bn; Sep inflow E17.9bn –EMU Oct money mkt invest inflow E3.9bn; Sep outflow E3.4bn [...]

Eurozone Oct non s/a current account balance 1.7 bln euros vs -0.7 bln in Sept

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Oct s/a current account balance -7.5 bln euros vs +2.2 bln euros in Sep

Noyer: Large-Scale Bond Purchases Beyond Scope of ECB Policy

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PARIS (MNI)- European Central Bank Council Member Christian Noyer said Monday that large-scale purchases of sovereign bonds were beyond the scope of ECB policy and could pose longer-term risks. Noyer, who is governor of the Bank of France, said at a conference here that the ECB’s non-standard policy measures were needed in the current environment [...]

ECB’s Weidmann: Germany Very Unlikely To Lose AAA Rating

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PARIS (MNI) – There is little risk Germany will lose its triple-A credit rating and even if it did, the fallout might not be “dramatic,” ECB Governing Council member Jens Weidmann said in an interview published Monday. The president of the Bundesbank rejected a broader mission for the central bank of financing Eurozone governments, and [...]

S&P raises Mongolia outlook to positive from stable

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Affirms sovereign ratings. Long-term rating remains BB-, short-term rating B. The outlook revision reflects expectations for a significant increase in real per capita GDP through at least 2014. Way to go Mongolia!!!

ECB’s Noyer: Many complex factors interacting in current crisis

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Complexity of crisis makes policy decisions difficult Restoring confidence is difficult, lengthy task Important ECB continues to ensure price stability Large scale govt bond purchases well beyond ECB’s role as a lender of last resort Timely delivery of euro zone fiscal reforms necessary to fighting crisis REALLY OPTIMISTIC about prospects for restoring stability and growth [...]

S.Korean FinMin: Short-term uncertainty will increase due to N.Korea risk

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Confident situation will be handled “without big shock” (good show)

French Budget Minister: Hoping for rebound in growth

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Reiterates no third austerity plan Priority for government is growth ECB is independent, will play full role in crisis fighting EU will discuss growth strategies in January Dow Jones reporting.