– Korean government studies measures to stem KRW volatility
– China’s HSBC flash manufacturing PMI rose to 13-month high
– Spain to sell 2015, 2017, and 2021 bonds
– US equity and bond markets closed for Thanksgiving
What to watch for today
EUR: Greek deadline. We expect the flash November PMI data to remain unchanged at a composite level at 45.7 today, with a slight pick-up in the manufacturing headline and pullback in services. This is in line with the market’s expectations for a generally unchanged Ifo print on Friday. We continue to see potential for disappointment on the data front and remain short EURUSD in our cash portfolio with a 1.23 target.
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