U.S. housing starts in September fell 0.3% to 628.000 vs. revised (28.000 lower???) 658.000 September reading. Consensus was at 610.000. On year level U.S. housing starts are up 16.5%.

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Initial jobless claims in the U.S. were reported at 388.000 vs. 395.000 consensus and last week revised (up 3.000) reading of 393.000.

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*** FT Alphaville: French bonds — some (parabolic) perspective ***
*** FT Alphaville: Dios mío! – redux ***
*** FT Alphaville: Please give generously… ***
*** FT Alphaville: The Buffett rule ***
*** FT Alphaville: Some euro banknotes are more equal than others ***
*** Felix Salmon: Europe’s liquidity crisis ***
*** FT Money Supply: The FEER – updated Nov 2011 ***
*** The Big Picture: A Global View of the Housing Bubble ***
*** The Big Picture: Construction Boom in 31 Countries & the Great Recession ***
*** The Big Picture: The Biggest Bubble in History? ***
*** Gregor.us: Selling the Oil Illusion, American Style ***
*** Macro Man:While Europe Fiddles, TMM Correlate and Disperse ***
*** Econbrowser: Exports in the Recovery (II) ***
*** FT BeyondBRICs: RBS: sell Argentine GDP warrants ***

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*** Gavyn Davies: The Italian Job ***
*** FT Alphaville: Eurozone, why did we bother ***
*** FT Alphaville: Pan-labyrinth ***
*** FT Alphaville: Bolton keeps the faith ***

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Baltic dry index rose 2.9% last week; Capesize Index was up 13.0%; Panamax Index fell 4.1%; Supramax Index was down 7.1%; Handysize Index fell 7.3%.

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Baltic Dirty Tanker Index rose 1.3%; Baltic Clean Tanker Index fell -1.7%.

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*** Ultimi Barbarorum: The Beginning of the End of the Euro Crisis? ***
*** FT BeyondBRICs: China inflation: a big fall ahead? ***
*** FT Alphaville: Koo: price-to-rents back to normal. Does it matter? ***
*** FT Alphaville: The Asian fuel-oil indicator ***
*** The Big Picture: Business Cycle Trends ***
*** The Big Picture: European Bank Exposure to Risky Mortgage Assets ***
*** The Big Picture: 4 Major Secular Bear Markets, 1900-2011 ***

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*** Gavyn Davies: The eurozone decouples from the world ***
*** An American Perspective from China: Déjà Vu All Over Again ***
*** FT Alphaville: Italian premier pokes Europe ***
*** FT Alphaville: Italian bond rout [updated] ***
*** FT Alphaville: The wrong technocrats ***
*** The Big Picture: Is the US Still on the Verge of Recession? ***
*** The Big Picture: Another week of political driven markets ***
*** The Big Picture: The Big Lie of the Financial Crisis ***

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Baltic dry index fell 11.6% last week; Capesize Index was down 14.8%; Panamax Index fell 5.3%; Supramax Index was down 7.8%; Handysize Index fell 7.4%.

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Baltic Dirty Tanker Index fell 1.9%; Baltic Clean Tanker Index fell -2.7%.

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*** Bond Vigilantes: Why you shouldn’t just read the headlines on US unemployment ***
*** FT Alphaville: About that last bastion of health in Europe ***
*** FT Alphaville: Five steps to financial crisis ***
*** An American Perspective from China: NPR and CNN: More On Europe and China ***
*** The Big Picture: QOTD: Chanos on Europe, China ***
*** The Big Picture: Are Italian Yields Once Again At The Tipping Point? ***
*** The Big Picture: A Short NFP Q&A ***

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Further deterioration in fundamentals.

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Nonfarm payrolls rose 80.000 in October; Consensus was at 95.000; September reading was an increase of 158.000 (revised up 55.000). Unemployment was reported at 9.0% vs. prior reading and consensus of 9.1%.

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*** FT Alphaville: ECB cuts rates 25bps ***
*** FT Alphaville: Isda has a bone to pick with you (and so can we!) ***
*** FT Alphaville: FOMC statement, 2 November 2011 ***
*** The Big Picture: FOMC Statement – Changes Versus Last Month ***
*** Econbrowser: Exports in the Recovery ***

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Initial jobless claims in the U.S. were reported at 402.000 vs. 401.000 consensus and last week revised (up 1.000) reading of 404.000.

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