- Pritchard: The ECB is under intense pressure to step up purchases of Italian bonds after premier Silvio Berlusconi finally relinquished power, clearing the way for Mario Monti to form an emergency government of technocrats.
- Pritchard: Italy's gentle saviour is tougher than he looks. Mario Monti is a free-marketeer who disguises Thatcherite views and a steel will behind a cloak of unflappable good manners.
- Pritchard: Europe's scorched-earth policies have begun in earnest. The inherent flaws of monetary union have created a crisis of such gravity that EU leaders now feel authorized to topple two elected governments.
- (WSJ) Telefonica's (TEF) third-quarter revenue rose 3.7% to EUR15.79 billion, even though sales in the Spanish unit fell 8.8% in the period. This was mainly offset by a 18% rise in Latin American sales, where Telefonica now gets almost half of its revenue.
- The Spanish economy experienced zero growth in Q3
- California’s unfunded pension liabilities have been estimated at between $240 billion and $500 billion.
- With bond market vigilantes beating the drum for ever-more belt tightening, much of the developed world is charging ahead with austerity plans that will drag on the world economy.
- Asia-Europe rates fell last week by 6.5 % to US$573 per TEU, the single biggest week-to-week decline this year, according to the latest Shanghai Containerised Freight Index.
- Hong Kong's 10% quarterly export decline blamed on Euro debt crisis
- YoY India's industrial production slowed down to 1.9% in September on monetary tightening
- MoM Japan's Industrial Production fell -3.3%.
- Japan’s September Capacity Utilization down -3.6%
- Arlan Suderman: global Corn stocks as a percent of annual usage continue to trend lower; currently sitting at 38-year lows.
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