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� US finished in the green, and the week marginally higher.
� VIX moved lower.
� Earnings on the day a bit more of a mixed.
� Commentary from AXP, ALLY and FITB all pointing to some level of slowdown.
� Most sectors finished higher: Comm Services, Real Estate, Utilities and Healthcare outperforming, while Energy the worst on weak oil.
� Financials were among the underperformers as banks gave back some of their recent gains
� AsiaPac is better bid, Hong Kong the only notable laggard.
� China higher after banks cut lending rates � 1y prime rate was lowered to 3.1% from 3.35%, while the 5y LPR was reduced to 3.6% from 3.85% - both bigger than exp.
� Tencent -1.4% vs ADR +4.4%.
� The greenback is subdued � ZAR c17.61. Aussie, Kiwi and offshore yuan a touch firmer.
� No major movements over in the yields: US2y 3.94/US10y 4.07.
� Aussie 10y eased slightly while JGB futures hover around Friday�s closing price.
� Over in commodities, gold hits another record (silver, palladium and platinum following suit), oil higher on ME tensions and base metals leading the board with copper and iron ore posting solid gains.
� Local earnings releases start to pick up this week while across the water, we can look forward to some heavyweights like Tesla, Verizon, UPS, Coca-Cola and Philip Morris reporting.
� Also, some key macro like Canada rates, SA CPI, EU and US PMIs.
� The rand is trading at R17.62/$ this morning, after closing stronger on Friday (R17.61/$*).
Key events and data:
� 16h00: US leading index (September)
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