Daily Market Insight

• US job openings bounce sharply in Sept but ISM manufacturing PMI falls • UK house prices fell the most in 2 years in September amid mortgage crisis • Chinese manufacturing activity shrinks in October • Oil rises on unexpected US inventory draw, Fed limits gains

• Rise in US consumer spending beats expectations; wage inflation slows • Euro zone inflation soars past forecasts to new record high • Japan Oct factory growth hits 21-month low as China conditions worsen • Oil prices trim losses as OPEC hikes demand forecast

• US pending home sales dip in September • Germany dodges recession but inflation climbs to 11.6% • Chinese manufacturing activity shrinks in October • Oil slips as China COVID curbs outweigh concerns over U.S. output

• US economy expanded by 2.6% in the third quarter • ECB raises interest rates again, cuts bank subsidies • BoJ holds ultra-low interest rates, raises 2022 inflation forecast • IMF cuts Asia's economic forecasts as China's slowdown bites

• US mortgage rates top 7% for first time in two decades • Japan’s extra budget for stimulus package to exceed $198 billion • South Korea Q3 GDP hits 1-year low, slightly above expectations • Dollar sells off on speculation of less hawkish Fed, euro regains parity

• US home price growth slows in August, surveys show • Australia CPI inflation hits 32-year high in Q3 • China’s Q4 GDP hits early speed bump as COVID stifles economy • Oil slips on unexpected US inventory build, Saudis limit losses

• US business activity weakens again in October • Euro zone October PMI adds to evidence bloc is heading for recession • Japan keeps warning on market volatility, raises view on capex in report • Oil sinks further amid China concerns, weakened economic prospects

• US weekly jobless claims fall • Liz Truss resigns as UK Prime Minister after less than two months • German producer prices rise more than expected in September • Oil slips on recession fears, eyes positive week as supply tightens

• US mortgage applications fall for 4th week • Eurozone inflation rate confirmed at new high • UK consumer price moves back to double-digit again, up to 40-year high • 10Y US treasury bond rout resumes

• US factory output rose more than expected in September • BoE to start selling bonds on Nov. 1, but not longer-dated gilts • Bank of Japan likely to raise inflation forecast to over 2.5% • Japan authorities keep up warning against sharp yen decline