1. Japan - Japanese GDP shrank more than expected in the third quarter, dragging the economy back into recession for the fourth time in five years. So much for a huge amount of QE...
The detail was not quite as bad as the headline as noted here:
'Japan's economy shrank by an annualised rate of 0.8 per cent in the third quarter, versus forecasts for a 0.2 per cent decline. But details of the report weren't so pessimistic: businesses ran down inventories, knocking 2.1 per cent off of annualised growth, but consumption contributed an annualised 1.2 percentage points to growth, and net exports added 0.4 point' (FT)
However I cannot get away from the notion that Abenomics is correctly lampooned here:
2. Sector performance when bond yields increase - super useful via @HumbleStudent. In my view another reason (along with value, sometimes yield and general lack of sentiment towards) to be overweight sectors like energy and mining currently:
3. Another day, another takeover this time a US$12bn odd approach by Marriott to Starwood to create a hotel/hospitality behemoth. Actually scrub that, maybe it was a 'take-under' as noted here.
Over the years I have seen plenty of acquiring companies suffer a falling share price following the announcement of a deal for various reasons. But a company being acquired - well that is more unusual. The full write-up is here.
4. Everyone believes it will be December #Fed
5. Policy confusion scope rising when the headline rate gets impacted in '16 by weak energy/food prices dropping out...
Latest developments in core € inflation are not consistent with Draghi's comments of a "weakening turnaround".