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EMERGING MARKETS: Global news: October 10

EMERGING MARKETS
BulletEM BulletEmerging Market News
  • US (MNI) – Consensus sees core CPI at 0.2% m/m in September, although there is sizeable skew toward a higher outcome and our survey of unrounded estimates sees an average 0.26% m/m. Core goods prices are expected to see their first monthly increase since February, largely because of stronger used car prices, whilst core services are seen moderating. Core services moderation is seen coming from the important rental components after two strong months as well as some volatile components.
  • US – Hurricane Milton is moving across central Florida after making landfall near Tampa with heavy rain raising the threat of widespread flooding and knocking out power for millions. Milton came ashore near Siesta Key as a Category 3 hurricane on Wednesday evening and is now packing winds of 85mph, the US National Hurricane Centre said. Damaging winds are lashing central Florida and flash flood emergencies are in effect.
  • CHINA – The PBoC has set up a swap facility to provide liquidity to institutional investors to buy stocks, part of a broad stimulus package announced earlier that ignited a rally in equities. The PBoC will accept applications from eligible securities firms, funds and insurers to obtain highly liquid assets such as government bonds and central bank bills if they provide certain collateral. The size of the tool is 500bn yuan ($70.6bn) and can be expanded in the future.
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  • US (MNI) – Consensus sees core CPI at 0.2% m/m in September, although there is sizeable skew toward a higher outcome and our survey of unrounded estimates sees an average 0.26% m/m. Core goods prices are expected to see their first monthly increase since February, largely because of stronger used car prices, whilst core services are seen moderating. Core services moderation is seen coming from the important rental components after two strong months as well as some volatile components.
  • US – Hurricane Milton is moving across central Florida after making landfall near Tampa with heavy rain raising the threat of widespread flooding and knocking out power for millions. Milton came ashore near Siesta Key as a Category 3 hurricane on Wednesday evening and is now packing winds of 85mph, the US National Hurricane Centre said. Damaging winds are lashing central Florida and flash flood emergencies are in effect.
  • CHINA – The PBoC has set up a swap facility to provide liquidity to institutional investors to buy stocks, part of a broad stimulus package announced earlier that ignited a rally in equities. The PBoC will accept applications from eligible securities firms, funds and insurers to obtain highly liquid assets such as government bonds and central bank bills if they provide certain collateral. The size of the tool is 500bn yuan ($70.6bn) and can be expanded in the future.