Headlines discussed at LNWM’s Monday morning briefing:
— China’s exports and imports tumbled in Sept. (-10% and -2%) on weak demand, yuan decline.
— Traders now see a 70% chance the Federal Reserve will raise US interest rates in December.
— US consumer confidence fell to a 1-year low in Oct., as US Presidential campaign hit new lows.
— The European Central Bank is expected to extend its stimulus program beyond March 2017; has already bought more than 1 trillion euros worth of gov’t bonds.
— Oil prices retreated below $52/barrel on possibility of higher US output.
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