Halister News

(Bloomberg) -- Personal income seen rising 0.4% in Oct. after increasing 0.3% in Sept. (forecast range +0.2% to +0.5%); tracks wages and salaries, investment and rental income, transfer payments.

• Personal spending seen rising 0.5% in Oct., same as Sept. (forecast range +0.2% to +0.7%); tracks spending on goods and services, is used to calculate GDP
  • “October retail-sales strength suggests a solid increase in non-durable goods, while a gain in unit auto sales hints at a healthy durable goods spending print": Bloomberg Intelligence

(Bloomberg) -- Canadian GDP m/m seen at +0.1% in Sept. vs +0.2% in Aug. (forecast range -0.1% to +0.2%); measures market value of goods, services produced within country.

• Sept. GDP y/y seen at +1.8% vs +1.3% in Aug. (forecast range +1.6% to +1.9%)
• Annualized quarterly GDP seen at +3.4% vs prior -1.6%
• Canada remains on track for second-half 2016 growth projections, return to inflation target by 2018, Bank of Canada Governor Stephen Poloz said on Bloomberg Television on Nov. 28

(Bloomberg) -- Private payrolls, as tracked by ADP National Employment Report, seen increasing by 170k in Nov. after rising 147k in Oct. (forecast range 140k to 232k); report is based on data from businesses with almost 24m workers on combined payrolls.

(Bloomberg) -- Madrid: ECB President Mario Draghi speaks on the future of Europe at University of Deusto Business School * Text will be available on ECB website

• See ECB weekly schedule
• NOTE: Europe integration weakened by populism, Draghi tells El Pais

(Bloomberg) -- Brazil’s assets may benefit from relief in political backdrop after a bill capping public spending was approved Tuesday, suggesting that recent noises in President Temer’s cabinet haven’t damaged the reform agenda, Daniel Weeks, chief economist at Garde Investimentos, says in a phone interview.

• Temer government continues getting bills approved according to the schedule, with high margins
• Also positive for market scenario the reports in Brazil media with transcription of the tapes recorded by former minister Calero with talks with Temer and chief of staff Padilha
  • Tapes content failed to show “anything new,” Weeks says
• Brazil 3Q GDP was “negative, but not a disaster”; unlikely to change market expectation of a 25bps cut from Copom today
• NOTE: 3Q GDP contracted 0.8% Q/q; Est. -0.9%
• NOTE: DI rates drop, Ibovespa futures rises; BRL reverses early gains

--JOHN DEANE