Daily Market Insight

• 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

• IMF cuts global GDP forecast, warns worst to come • U.S. retail sales unexpectedly flat in September • German inflation rate reaching the new high since reunification • Asian markets mixed as keeping eyes on China meeting

• US CPI rose more than expected again in September; core CPI up 0.6% • Euro zone posts record trade deficit in August amid soaring energy prices • China CPI rises as expected in Sept, factory inflation at 20-month low • Oil rises as OPEC+ members voice support for supply cut

• US inflation expectations lowest in a year • UK labor market exodus drives jobless rate down to 3.5% • Japan logs record-low August current account surplus as import prices surge • Japanese yen slides past 146 level, more intervention awaited

• China's services activity falls for first time since May • Germany girds for gas supply pain, targets $93 billion price relief plan • Japan’s foreign exchange reserves fall by record $54bn • Dollar rises, stocks fall with economic data, rates in focus