Mon, Nov 29, 2021 @ 11:36 GMT
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US Retail Sales And Consumer Confidence Due

General trend

  • Taiwan Semi rises over 3% after earnings/guidance.
  • Nikkei has remained higher; USD/JPY rose to the highest level since late 2018.
  • Hang Seng has gained after 2-day closure.
  • Shanghai Composite moved slightly higher in morning trading (+0.3%).
  • S&P ASX 200 has traded modestly higher after opening flat.
  • China Q3 GDP data is due on Oct 18th (Monday, Sunday night in the US).
  • Companies due to report during the NY morning include Goldman Sachs, JB Hunt, ProLogis, PNC, Charles Schwab, Sensient Technologies.

Headlines/Economic Data

Australia/New Zealand

  • ASX 200 opened flat.
  • Rio Tinto [RIO.AU]: Cuts FY21 Pilbara Iron Ore shipments at 320-325Mt (prior 325-340Mt).
  • (AU) Australia sells A$1.0B v A$1.0B indicated in 4.25% Apr 2026 bonds, avg yield 0.8669%, bid to cover 7.52x.
  • (NZ) New Zealand Sept Manufacturing PMI: 51.4 v 40.1 prior.
  • China/Hong Kong
  • Hang Seng opened +0.9%, Shanghai Composite -0.2%.
  • (CN) China said to ease banks mortgage limits through end of 2021 – Press.
  • (CN) China Premier Li Keqiang: Q3 growth leveled off due to a varied of factors; recovery remains unbalanced but confident to achieve full year targets [Oct 14th].
  • Greenland Holdings [600606.CN, property developer]: S&P cuts rating 2 notches to B+ from BB; Outlook Negative.
  • (CN) China PBOC Open Market Operation (OMO): Injects CNY10B in 7-day reverse repos v CNY10B prior; Net drain CNY0B v Net drain CNY90B prior.
  • (CN) China PBOC sets Yuan reference rate: 6.4386 v 6.4414 prior.
  • (CN) China Foreign Ministry spokesman Zhao Lijian: US should take China’s concerns over Taiwan seriously.
  • (CN) China President Xi: China to set up an innovation center for global transportation.
  • (CN) China Commerce Ministry: issues 2022 quota for 13.65Mt of fertilizer imports, flat y/y.


  • Nikkei 225 opened +0.8%.
  • (JP) Speculated that newly elected PM Kishida has pledged to steer country away from Abenomics – Press.
  • (JP) Japan Cabinet Office Monthly Report: Maintains overall economic assessment; cuts assessment of public investment and exports [first cut in view on exports in 7 months].
  • (JP) Japan Fin Min: Declines to comment on FX Levels.


  • Kospi opened +0.8%.
  • (KR) Bank of Korea (BOK) Gov Lee: Reiterates Nov rate hike is possible if there is no specific risk – comments in parliament.
  • (KR) Bank of Korea (BOK) Report: Reiterates to gradually adjust degree of accommodation.
  • (KR) South Korea said to extend current social distancing by 2 weeks, to ease private gathering rules on Oct 18th – Yonhap.
  • (KR) South Korea sells 50-year bonds: avg yield 2.270% v 1.990% prior.

North America

  • (US) Fed’s Harker (non-voter): Reiterates does not expect rate hikes until late 2022, early 2023; It is soon time to slowly taper asset purchases; Expects GDP growth around 5.5% in 2021.
  • Moderna [MRNA]: Confirms FDA advisory committee unanimously votes in support of emergency use for a booster dose of Moderna’s COVID-19 vaccine in the US.
  • (US) US President Biden signs bill related to short-term US debt limit increase (as expected).
  • (US) President Biden to speak on Economic Agenda at 13:45ET on Oct 15th.
  • (CA) Bank of Canada (BOC) Gov Macklem: Slack remains in Canada Labor market; Supply chain disruptions likely to be more persistent than expected.


  • Hugo Boss [BOSS.DE] Reports prelim Q3 EBIT €85M v €57Me, Rev €755M v €662Me, Raises outlook.

Levels as of 01:20 ET

  • Nikkei 225, +1.6%, ASX 200 +0.7% , Hang Seng +1.2%; Shanghai Composite +0.3%; Kospi +0.9%.
  • Equity S&P500 Futures: +0.4%; Nasdaq100 +0.4%, Dax +0.4%; FTSE100 +0.3%.
  • EUR 1.1611-1.1588 ; JPY 114.00-113.66 ; AUD 0.7426-0.7405 ;NZD 0.7061-0.7028.
  • Gold -0.2% at $1,793/oz; Crude Oil +0.8% at $81.92/brl; Copper +0.4% at $4.6280/lb.


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