(as of 7:00 AM PST)
It should be a quiet day, a holiday for many...Veterans Day. The bond market is closed while equity markets have normal hours, although many traders are taking the day off. Markets are flat this morning with little data of significance being released today. China's economic numbers are weak and indicate that we have yet to see the worst of the slowdown in their massive economy. Asia markets shrugged off the negative news, seeing it as a very positive for more economic stimulus to come. European markets are modestly higher. While US markets are close to unchanged, there is a sense that momentum is shifting to the plus side after a rough start to the month. Arguments continue to surface about December's possible interest rate hike though it looks likely given last week's strong employment numbers. Oil is to the downside with a large supply buildup and gold continues its lengthy decline in spite of a falling dollar.
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