Wall Street Trading Desks

The latest on what we are talking about this morning.

We summarize his key points:

Risk off in Europe. Spain specifically weak. Everyone’s waiting for bank stress test results.
Shanghai rallied 1.5% last night, and is now up 3 out of the last 4 sessions.
New French budget coming out that really socks it to high earners.
A Moody’s review of Spanish debt could come as soon as the close today.
Chinese leadership transition announced for November 8.
The Chinese yuan climbs to a 19-year high.
The yen is at 7-month high
Moody’s cuts South Africa.
According to AAII,the number of bearish investors has surpassed bullish investors. This is the first time this has happened since early August.

The Executive