Germany's September factory orders bounce back, but manufacturing recovery remains unsure
German industrial orders rose 4.4% in September, driven by autos and mechanical engineering, but underlying conditions remain challenging.
Canada's August producer price index rose 1.3% m/m, up from 0.6%. Annual PPI increased 13.5%, and raw materials prices also surged.
These figures illustrate genuine inflationary pressures, providing context for why central banks remain concerned.
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German industrial orders rose 4.4% in September, driven by autos and mechanical engineering, but underlying conditions remain challenging.
Fidelity's Jurrien Timmer questions the 60/40 portfolio comeback as higher Treasury yields sustain a positive stock-bond correlation.
The Bank of England is expected to raise Bank Rate to 4% on Thursday, its first hike of this cycle, with inflation at 3.5%.
Japan's services PMI rose to 51.7 in October, but the composite PMI slipped to 52.1, a five-month low, as hiring slowed and cost pressures persisted.