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Thursday, November 21, 2013

Asian, European stocks lower after FOMC, weak PMIs.

Asian and European equities were mostly lower at the time of writing following weak eurozone and Chinese PMI data, and after the FOMC minutes showed that the Fed could start turning down the money printing presses in the coming months. Japanese shares, though, bucked the trend and jumped 1.9% as tapering means a stronger dollar and a weaker yen. Some at the Fed are "itching" to taper. Janet Yellen "is not persuaded of this view, but it will be hard for the doves if November payrolls are strong."

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