OVERNIGHT MARKETS AND NEWS
The dollar index (DXY00 +0.01%) is up +0.03%. EUR/USD (^EURUSD) is down -0.07%. USD/JPY (^USDJPY) is down -0.05%.
Dec 10-year T-note prices (ZNZ17 -0.01%) are up +0.5 of a tick.
According to Eurozone officials familiar with the matter, the ECB is likely to make small multiple adjustments in its guidance on monetary policy next year rather than any major change in language as it ends QE.
UK Oct public sector net borrowing rose +7.5 billion pounds, stronger than expectations of +6.5 billion pounds and the biggest increase in 6 months.
The UK Nov CBI trends total orders rose +19 to a 29-year high of 17, stronger than expectations of +5 to 3.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Oct Chicago Fed national activity index (expected +0.03 to 0.20, Sep +0.54 to +0.17), (2) Oct existing home sales (expected +0.2% to 5.40 million, Sep +0.7% to 5.39 million), (3) Treasury auctions $13 billion of 2-year floating-rate notes, (4) Fed Chair Janet Yellen speaks at New York University's Stern business School.
