- USA unemployment rate rise from 6.1% in Sep to 6.5% in Oct (worse than expectation, 6.3%)
- USA job creation in Oct is -240k (worse, -200k)- USA weekly jobless claim rise to $481k (worse, $478k) while continue jobless claim reach $3.84M (worse, $3.75M)
- BoE cut interest rate by 150 bps to 3.0% and ECB cut 50 bps to 3.25% (good)
- China announce it will increase government spending / cut tax in total of RMB$400B to boost up economy. Emphasis mainly on construction, therefore, I don't think it will trigger a huge rise in equity market, but for sure it will keep China GDP above 8% in the coming 2 years.
11.11.2008
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