Empire State Mfg Survey General Business Conditions Index to be reported at 08:30 November Empire State Mfg Survey General Business Conditions Index will be reported at 08:30 . Current consensus is [5.00]
Fitch affirms Netherlands at 'AAA'; Outlook stable Fitch Ratings has affirmed The Netherland's Long-term foreign and local currency Issuer Default Ratings at 'AAA' with Stable Outlooks. The issue ratings on the Netherland's senior unsecured foreign and local currency bonds have also been affirmed at 'AAA'. The Country Ceiling has been affirmed at 'AAA' and the Short-term foreign currency IDR at 'F1+'. Reference Link
Fitch affirms Greece at 'CCC' Fitch Ratings has affirmed Greece's Long-term foreign and local currency Issuer Default Ratings at 'CCC'. The issue ratings on Greece's senior unsecured foreign and local currency bonds have also been affirmed at 'CCC'. The Short-term foreign currency IDR has been affirmed at 'C' and the Country Ceiling at 'B-. Reference Link
Today's U.S. reports Today's U.S. reports revealed a modestly disappointing round of retail sales figures for October and another big downside PPI surprise, though analysts saw upside surprises for both September business inventories and November Michigan sentiment. Analysts now project a big upward revision in Q3 GDP growth to 2.1% from the 1.5% advance figure with a massive inventory boost, to be followed by Q4 GDP growth of 2.5%. Analysts see offsetting downside inventory risk into early-2016 thanks to the sharp climb in the inventory-to-sales (I/S) ratio to a 1.38 new cycle-high in September from a 1.37 prior cycle-high in August, following a five-month stretch at 1.36. Inventories will continue to weigh on the factory sector into the winter months, alongside the ongoing petro-sector hit.
Fedspeak resumes this week with updates from Governor Powell Fedspeak resumes this week with updates from Governor Powell (Tuesday) before the Clearing House Annual Conference. Cleveland Fed hawk Mester, Atlanta Fed hawk Lockhart and NY Fed dove Dudley all take part in a "Federal Reserve Perspectives" panel discussion at the Clearing House conference (Wednesday), while Dallas Fed hawk Kaplan lectures on "A Descussion of Economic Conditions and Federal Reserve Policy" as well. Lockhart appears again on the "Economic Outlook and Financial Impact 2016" (Thursday), while St. Louis Fed moderate Bullard discusses the economy and monetary policy (Friday).