From Marc to Market:
Overview: The dollar is mixed against the G10 currencies. It is confined to narrow ranges ahead of today's CPI report. The Russian ruble is the strongest of the emerging market currencies following the imposition of new capital controls, forcing many exporters to repatriate their foreign earnings. After posting a key upside reversal at the end of last week, gold continues to recover. It nearly $1883 so far today, the best level in more than two weeks. November WTI is steadied after yesterday's 2.9% drop. It settled near $82.80 at the end of last week and traded slightly below it today, before recovering. Reports indicate that API estimated a 12.9 mln barrel build in US stocks.
Goosed by the China's sovereign wealth fund boosting its stake in large banks, mainland stocks participated in the rally in Asia Pacific equities today. All the large bourses outside of India rose led by more than 1% gains in Tokyo, Hong Kong, and Seoul. It is the fifth consecutive session the MSCI regional index has risen. Europe's Stoxx 600 is rising for the third straight session, which is the longest advance since late August. US index futures are trading higher. The S&P 500 and NASDAQ have four-day rallies in tow. Benchmark 10-year yields are mostly a little firmer today. The 10-year US Treasury yield is near 4.57%, up a one basis point. European yields are 1-2 bp firmer, though the Italian bonds are holding their own. Their premium over German bunds has narrowed by about 10 bp since the end of last week.
Asia Pacific
The US reported a larger-than-expected rise in September producer prices yesterday (0.5% rise on the month for a 2.2% year-over-year pace)....
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