Market Update 22/10/13

One line- Markets flat as traders are cautious ahead of US jobs data released today.

- Global stocks sit near recent highs having been broadly flat over the last 24 hours. Treasuries and the dollar have rallied marginally as investors display caution before US jobs data released today. The data is forecast to show that 180 000 jobs have been created and that unemployment remained at 7.3%. Gold is up $2 to $1317 while industrial commodities are flat. The S&P/ASX 200 index gained 0.4% to its highest level since June 2008 thanks to BHP Billiton lifting its full year iron-ore production forecast. http://www.ft.com/cms/s/0/d429ab60-3ac7-11e3-b234-00144feab7de.html?siteedition=uk#axzz2iLKchalX

-Technology problems have prevented a successful launch of President Obama's healthcare reforms as problems with the registration website have prevented millions of uninsured Americans from signing up. The President has expressed his frustration at the problem and reassures the public that the glitches will be fixed. http://www.ft.com/cms/s/0/60de58f4-3a6d-11e3-b234-00144feab7de.html#axzz2iLKchalX

- Home prices in China's four major cities rallied the most since January 2011, fuelling speculation of a property bubble formation. New home prices in the year from September rose 20% in Shenzhen and Guangzhou, 17% in Shanghai and 16% in Beijing. http://www.bloomberg.com/news/2013-10-22/china-home-prices-rise-led-by-record-gains-in-four-major-cities.html

- The day Assad announced on Italian television that he would destroy his chemical weapon stockpile Syrian government forces were dropping some of the most powerful weapons used in the civil war. The rebels advance has faltered while it looks like supply lines from Qatar have slowed. Assad meanwhile has vast stockpiles of tanks, artillery and aircraft. While the disarmament raised hope of a peace treaty to be negotiated in Geneva there has been almost no progress towards that end. http://uk.reuters.com/article/2013/10/22/uk-syria-crisis-arms-idUKBRE99L06P20131022

Data

S&P 1744.66 0.01%

FTSE 6662.35  0.12%
Nikkei 14,713.25 0.13%

EUR/USD- 1.3670 0.08%
USD/JPY- 98.37 0.18%
GBP/USD- 1.6129 0.11%

Gold- 1315.30 0.05%
Oil (Brent)- 109.99 0.32%

Copper- 330.95 0.18%

 

 

10 year yields

US- 2.59 (-1bps)
UK- 2.73 (0bps)
Japan- 0.61 (0bps)