- It was a relatively quiet week on the U.S. data front, with the only notable releases being September international trade and the wholesale inventory report. International trade surprised to the downside – with the trade deficit widening to $41.8 billion – while inventories posted a sizeable monthly gain of 0.4%.
- Weaker third quarter economic growth reared its head in both the euro zone and Japan. Euro zone real GDP grew by a dismal 0.4% (annualized), while third quarter growth in Japan decelerated to 1.9% (annualized) – half of what it grew by between April-June.
- Federal Reserve Chair Nominee Janet Yellen offered relatively dovish remarks to the Senate Banking Committee on Thursday, but provided no new guidance into future Fed policy.
Source: TD Economics
Article of the Week – Andrew Huszar: Confessions of a Quantitative Easer – WSJ http://on.wsj.com/1eFpYSJ