The Traderszone Network

Wall Street has a new risk on its radar: Hurricane Joaquin. The Category 4 hurricane, now pummeling the Bahamas, is the first major storm to threaten the U.S. East Coast since Superstorm Sandy devastated New York and New Jersey in October 2012. Joaquin’s trajectory is still uncertain – it could yet cut a path out to sea – but New York’s financiers are aiming to keep trading should it strike early next week.

Australia – Retail Sales for August  +0.4% m/m
–

expected +0.4%
– prior was -0.1%
There you go …. I outlined in my mini-preview what I thought would happen if the data beat, and also what I thought if it missed. I didn’t do it for if it was on expectations though … D’oh!

Submitted by Ben Hunt via Salient Partners’ Epsilon Theory blog,

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Bloomberg with the headline crossing on Barclays’ latest view on the Bank of Japan:
– They were previously tipping the BOJ to ease further in April 2016
– Now tip October 30, but they see a risk of action on October 7
Barclays cite  results … “risk that corporate inflation expectations have started to turn down”

The dollar treaded water on Friday as investors were wary ahead of the U.S. jobs data, which could bolster, or diminish, the chances of a Fed hike.

Earlier today, Macquarie released a must-read report titled “Further deterioration in China’s corporate debt coverage”, in which the Australian bank looks at the Chinese corporate debt bubble (a topic familiar to our readers since 2012) however not in terms of net leverage, or debt/free cash flow, but bottom-up, in terms of corporate interest coverage, or rather the inverse: the ratio of interest expense to operating profit.

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Volkwagen’s U.S. chief will testify on October 8 before a U.S. congressional oversight panel about the German automaker’s emissions cheating scandal.