Daily Market Insight

• US business activity weakens again in October • Euro zone October PMI adds to evidence bloc is heading for recession • Japan keeps warning on market volatility, raises view on capex in report • Oil sinks further amid China concerns, weakened economic prospects

• US weekly jobless claims fall • Liz Truss resigns as UK Prime Minister after less than two months • German producer prices rise more than expected in September • Oil slips on recession fears, eyes positive week as supply tightens

• US mortgage applications fall for 4th week • Eurozone inflation rate confirmed at new high • UK consumer price moves back to double-digit again, up to 40-year high • 10Y US treasury bond rout resumes

• US factory output rose more than expected in September • BoE to start selling bonds on Nov. 1, but not longer-dated gilts • Bank of Japan likely to raise inflation forecast to over 2.5% • Japan authorities keep up warning against sharp yen decline

• IMF cuts global GDP forecast, warns worst to come • U.S. retail sales unexpectedly flat in September • German inflation rate reaching the new high since reunification • Asian markets mixed as keeping eyes on China meeting

• US CPI rose more than expected again in September; core CPI up 0.6% • Euro zone posts record trade deficit in August amid soaring energy prices • China CPI rises as expected in Sept, factory inflation at 20-month low • Oil rises as OPEC+ members voice support for supply cut

• US inflation expectations lowest in a year • UK labor market exodus drives jobless rate down to 3.5% • Japan logs record-low August current account surplus as import prices surge • Japanese yen slides past 146 level, more intervention awaited

• China's services activity falls for first time since May • Germany girds for gas supply pain, targets $93 billion price relief plan • Japan’s foreign exchange reserves fall by record $54bn • Dollar rises, stocks fall with economic data, rates in focus

• US labor market stayed tight in September: non-farm payroll +263k, jobless rate falls to 3.5% • German retail sales, industrial output fall as inflation tightens grip • Local tourism spending rises during China's Golden Week despite lockdowns • Oil jumps 4% to 5-week high lifted by OPEC+ output cut

• US initial jobless claims rose to 219,000 last week • Euro zone retail sales fall as expected in August • Japan Aug household spending rises annually on reopening • Asian stocks retreat on global recession angst; dollar firm