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Markets Mixed, Investors Lack Visibility

October 02, 2013
Generally speaking risk came off on Monday amid signs that US government would close. Risk appetites appeared to return yesterday, perhaps on sell the rumor, buy the fact type of activity. Today investors seem to have lost conviction.

Asian shares were mostly higher, and this includes Hong Kong (+0.55%), which re-opened for the first time this …
Markets Mixed, Investors Lack Visibility Markets Mixed,  Investors Lack Visibility Reviewed by Marc Chandler on October 02, 2013 Rating: 5
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Great Graphic: ADP Jobs Estimate Takes on Greater Significance

October 02, 2013
If the Republican shut down of the federal government continues the September jobs report will be not released on Friday.  This will give greater significance to the ADP estimate that will be released Wednesday morning (8:15 EDT/13:13 GMT).  
While on a month-to-month basis there may be some discrepancy, as this Great Graphic posted by Joe Weisent…
Great Graphic: ADP Jobs Estimate Takes on Greater Significance Great Graphic:  ADP Jobs Estimate Takes on Greater Significance Reviewed by Marc Chandler on October 02, 2013 Rating: 5
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ECB: Much to Discuss, but Little Action

October 01, 2013
The European Central Bank meets tomorrow, rather than Thursday due to the national holiday in Germany.   There is practically no chance that the ECB changes rates or its forward guidance.  Nevertheless, there is much that officials have to discuss.

First, the September manufacturing PMI was the third consecutive monthly reading above the 50 boom/bu…
ECB: Much to Discuss, but Little Action ECB:  Much to Discuss, but Little Action Reviewed by Marc Chandler on October 01, 2013 Rating: 5
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Partial Shutdown US Government Weighs on Dollar, but Equities Recover and Bonds Ignore Partial Shutdown US Government Weighs on Dollar, but Equities Recover and Bonds Ignore Reviewed by Marc Chandler on October 01, 2013 Rating: 5
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Great Graphic: S&P 500 Performance around Past Government Shut Downs

October 01, 2013
Given that the debate over US fiscal policy has resulted in a government shut down in more than half the past 30 years might mean that, as distasteful as it is, it is part of the normal process. Such an outcome seems impossible in a parliamentary system, in which the executive (and cabinet) comes out of the legislative branch.
One of the implic…
Great Graphic: S&P 500 Performance around Past Government Shut Downs Great Graphic:  S&P 500 Performance around Past Government Shut Downs Reviewed by Marc Chandler on October 01, 2013 Rating: 5
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