Societe Generale in its early Friday economic news summary pointed out:
-- The euro stays lower after a dovish European Central Bank rate cut, EGB curve steeper. Next 25bps cut to 3.0% likely in December. 10-year United States Treasury backs up to 4.10% after solid September retail sales, Atlanta Fed gross domestic product upgraded to 3.42%. Pricing for November FOMC steady at around 21bps.
-- China's Q3 GDP +0.9% quarter over quarter (4.6% year over year). September retail sales accelerate to 3.2% year over year, decline in used and new home prices slows versus August. The central bank starts specialized re-lending facility for listed companies including share buybacks and equity swap programs.
# Japan: verbal intervention pegs USD/JPY back below 150, Governor Ueda and Chief Cabinet Secretary Hayashi watching foreign exchange moves with a sense of urgency. Top foreign exchange diplomat Mimura says recent yen moves one-sided. Core consumer price index slows to 2.4% year over year in September.
-- Day ahead: US housing starts, building permits. Fed speakers Bostic, Kashkari, and Waller. Eurozone current account, ECB survey of professional forecasters
-- Nikkei +0.2%, EUR 10-year IRS +1bp at 2.405%, Brent crude +0.6% at $74.9/barrel, Gold +0.5% at $2,706/oz.
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