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Morning Memo: Monday, January 6, 2014 (NEW FORMAT BEGINS TOMORROW!)

Morning Memo: Monday, January 6, 2014 (NEW FORMAT BEGINS TOMORROW!)

NOTE: Starting tomorrow, "Morning Memo" will take on a new publishing schedule and format. The "Morning Memo" commentary on economic and geopolitical events that take place around the globe will come out periodically, when most notable, with more substantive content on the overall global strategic market view. We expect this to be a more value-added publication and look forward to hearing feedback!

In addition....

ICYMI: Last week, we announced new content for Soos Global Market Musings!! Please have a look at the post by hitting the link below.

ANNOUNCING NEW CONTENT for Soos Global Market Musings!!!

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"Morning Memo" begins below this "NOTE for NEWCOMERS" to "Morning Memo"...... Each morning, we post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets. It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities! Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.
This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.
We hope you find this useful and informative....and as always, that you'll share feedback!!
5:00am ET...

  • Asia...lower! Japan re-opened for first trading day of '14 lower by over 2%, largely reacting to a somewhat stronger Yen vs USD, w/the level falling below 105.
  • China...also lower as the opening of the IPO market weighs with supply concerns. More negative news came from HSBC's Services PMI for Dec. which showed expansion intentions fell to 50.9 fr 52.5 in Nov. (Of interest: WSJ story re China moving to 'rein in steel industry' in order to mop up excess supply and to clean up the environment).
  • Europe...Markit's Services PMI for Dec showed Eurozone inline @ 51, down slightly from Nov's 51.2. Spain surprised to the upside @ 54.2 vs Nov 51.5. Germany fell to 53.5 vs Nov's 55.7. Overall, Markit's Composite Index summary:
  • Eurozone economic recovery accelerates at end of 2013, with the Composite #PMI Output Index at 52.1 (Nov:51.7) pic.twitter.com/g0v0PKCG73

    - Markit Economics (@MarkitEconomics) January 6, 2014
  • US...big week of economic data highlighted by Non-Farm Payrolls on Friday. Estimates are ~185k.
  • more later....
  • Services Growth Decelerates in December http://t.co/Q8XWkWKTY9

    - Briefing.com (@Briefingcom) January 6, 2014

    Factory Orders Remain Strong on Durables Demand http://t.co/VnfGGIgdds

    - Briefing.com (@Briefingcom) January 6, 2014

Please continue to visit Soos Global Market Musings for updates.

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