What happened this past week?

Positives

  1. Thailand’s auto sales increase 200+% in October
  2. Thailand’s exports improve 14% in October
  3. Greece escapes and is given more time to figure itself out
  4. Spanish and Italian bond yields fall to new lows
  5. Japan’s IP in Oct unexpectedly jumps by 1.8% helped out by smartphone component production. Also, further yen weakness leads to highest Nikkei close since late April.

Negatives

  1. German retail sales in Oct fall 2.8% m/o/m vs est of down .4%.
  2. Euro zone unemployment rate ticks up to new high at 11.7%.
  3. German and Italian consumer confidence fall.
  4. Japan’s PMI 46.5 v 46.9 in Oct, below 50 for 6th straight month.
  5. Hong Kong exports in Oct unexpectedly fall and imports grow less than expected.
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