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10/10 The Morning Briefing
[private][private]Equities: Largely higher. Asian markets were generally higher, save for China which returned from a break with a correction. European stock prices edged higher through the morning session.
Bonds: Backing off. JGBs saw little action, in lieu of the Japan holiday. European bond prices backed off in a widespread manner.
Currencies: Euro rallies. Hopes of belated support for the Eurozone banking sector underpinned the euro, the latter rising to €/$ 1.357 against the dollar. The yen saw little change, inching up to ¥/$ 76.60.
Eurozone: Timetable set? A weekend meeting between the leaders of France and Germany seemingly set a deadline of the end of the month to reach agreement on a comprehensive package of measures to stabilise the Eurozone.
France: Manufacturing rises further. Very much exceeding expectations for a second successive month, manufacturing output recovered further in August.
Italy: Industrial output surges. Surprising very much to the upside, August industrial production soared 4.3%, the largest M/M jump in a decade.
(DE) 10/10 The Morning Briefing – North American Edition[/private][/private]