November 4th – Top Stories

1/ US

 

- Fed’s Fisher says U.S. government bears blame for slow recovery - Reuters

 

An ineffective, fractious and fiscally irresponsible government has slowed the U.S. recovery and counteracted the stimulative effects of Federal Reserve’s super-accommodative monetary policy, a top Fed official said on Monday.

 

All Fed members’ speeches since September FOMC meeting are available here.

 

2/ China

 

- China’s services industry picks up further in October - Reuters – By Natalie Thomas

 

Activity in China’s services sector expanded at the fastest pace in 13 months in October, offering further indications that the economy has stabilised, though activity in some important areas including new orders slowed.

 

3/ Eurozone & UK

 

- Spain’s Outlook Revised to Stable by Fitch - Bloomberg – By Emma Ross-Thomas

 

MThe European Central Bank said on Thursday it was converting temporary bilateral liquidity swap arrangements with five other central banks to standing arrangements that would remain in place until further notice.