Succinct summation of week’s events

Succinct summation of week’s events:

Positives

1) For asset prices at least, Fed VC Dudley hints at more action, CRB RIND up 14 out of 15 days to record high
2) PIG debt rallies sharply as Ireland quantifies bank rescue’s and Portugal gives budget details
3) Less than expected maturing ECB funds rolled into new facilities
4) Chinese PMI mfr’g indices both rise more than expected and Shanghai index at 2 week high
5) Q3 Japanese Tankan mfr’g survey rises 7 pts 6) Initial Jobless Claims lower than expected

Negatives

1) Fed VC Dudley hints at more action, commodity inflation growing, $ index lowest since Jan and gold at record high
2) ISM falls to lowest since Nov ’09
3) MBA said refi’s fell to 7 week low even as mortgage rates fall to new low
4) Conference Bd Consumer Confidence falls to lowest since Feb
5) House votes to slam China’s currency policy and implicitly threatens trade war.

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