What happened last week

Monday: Eurozone October Sentix investor confidence -38.3 vs -34.7 expected, level only reached in May 2020 and March 2009, in the wake of the covid recessions and GFC, respectively. Japan October current account balance -0.53T vs -0.47T expected, deepest deficit since 2014. Australia NAB business confidence 5 in Sept. vs 10 prior.

Tuesday: UK Aug. average earnings index + bonus 6.0% vs 5.9%e. UK Sept. claimant count 25.5k vs 4.2k change expected. UK Aug. unemployment rate 3.5% vs 3.6%e. US NFIB small business optimism 92.1 vs 91.2e, third consecutive month of increase. Brazil Sept. CPI 7.17% YoY vs 7.10%e, and down from 8.73% in August: Brazilian CPI looks like it is peaking. China, a very strong...