Archives of “November 2, 2021” day
rssEurozone October final manufacturing PMI 58.3 vs 58.5 prelim
Latest data released by Markit – 2 November 2021
“Eurozone manufacturers reported a worsening of the supply chain situation in October, which curbed production growth sharply during the month. Average delivery times for raw materials lengthened at a rate exceeded only twice in almost a quarter of a century of survey data as companies reported demand once again running ahead of supply for a wide variety of inputs and components. Production constraints at suppliers were reported alongside a growing list of logistical issues. These include a lack of shipping containers and inadequate freight capacity, port congestion, driver shortages and broader transport delays linked mainly to the pandemic.
“These shortages have led to the weakest rise in factory output since the recovery began in July of last year, and also pushed inflationary pressures to new survey highs, raising further questions about just how transitory the recent spike in inflation will be.
“Business confidence also lost some ground to hit a one-year low in October, as increasing numbers of producers grew concerned about the supply situation and the impact of rising costs and prices, adding to the indications that manufacturers face some challenging months ahead.”
Lower bond yields weigh on yen pairs to start the session
2-year Treasury yields down over 3 bps to 0.48%
AUD/USD eases to fresh one-week lows post-RBA
A dovish RBA weighs on the aussie today
SSE Composite Index and SZSE Component Index down 1.62%, 1.19% respectively, dragged by sectors of bank, chemical products, and beverage manufacturing.
China junk spreads have widened back to records, at a massive 2150 basis points. And this chart doesn’t account for Monday’s selloff yet.
Musk says on Hertz: I’d like to emphasize that no contract has been signed yet.
Musk on Tesla and Hertz, reply tweting:
South Korea October core inflation data the highest since December 2015
CPI data out of South Korea a few minutes ago.
- prior +2.6%
- highest since January 2012
- +0.1% m/m (prior 0.5%)
- prior +1.5%
- highest since December 2015
- oil product prices, fresh foods and housing rentals continued to rise
$120 oil may be only seven months away
Bank of American and Goldman Sachs with some bullish comments
“We estimate that oil demand is nearing 100 million b/d, its pre-COVID level, with winter seasonality and the recovery in international jet demand set to bring demand to record highs by early next year,” they wrote today.
One day this might be tradable data
Global warming is still an abstraction for markets
How liveable will earth be in 2070?
Up to a third of the projected global population of 9bn could be exposed to temperatures on a par with the hottest parts of the Sahara, according to research by scientists from China, US and Europe https://t.co/r2yQhpb1Gg pic.twitter.com/RmH6kGp1Tt
— Financial Times (@FinancialTimes) November 1, 2021