Happy Freakin Halloween

My costume this year was borrowed from Roubini, it was no surprise that he had sixteen of them hanging in his closet. Odd fella that Nouriel. Japan cut their key rate to essentially zero overnight and it was greeted with a 500 point down move. It looks to me that we are right behind Japan in the race to a zero interest rate scenario. Not good at all.

On the economics calendar, personal income and the PCE core deflator for September, the Chicago manufacturing PMI for October and the University of Michigan’s consumer confidence for October will be released.

More bullish action later? It should be a kick today.

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