ECB day

The European Central Bank is expected to announce today how it intends to bring to an end its large-scale asset purchases. "reduced purchases to 40 billion euros ($47 billion)"

The euro is having a quiet morning

House vote

USA tax-reform budget vote later today.

Should the vote pass, the Committee could release the long-awaited tax bill as early as Nov. 1.

Gary Cohn is no longer in the running to lead the Federal Reserve,

Donald Trump thinks Janet Yellen is “terrific.”

Oil production cut

Saudi Arabian Crown Prince wants to extend oil production cut.

A barrel of West Texas Intermediate for December delivery was trading unchanged at $52.18

Markets waiting

The MSCI Asia Pacific Index slipped less than 0.1 percent overnight

while Japan’s Topix index added 0.1 percent

In Europe, the Stoxx 600 Index was unchanged at 5:35 a.m.

investors await the ECB decision

Investors keeping an eye on developments in Catalonia.

S&P 500 futures were less than 0.1 percent lower,

the 10-year Treasury yield was at 2.424 percent

gold was unchanged.

Earnings

Deutsche Bank AG and Barclays Plc released disappointing third-quarter results

Here’s what you should read today

• Bond market doomsday is a dud to traders seeing buying opportunity.
• Investors are underestimating global risks, Singapore’s central bank chief warns.
• Even in its birthplace, strict inflation targeting is losing its luster.
• How Rex Tillerson is remaking the State Department.
• Australia’s got a lock on a metal that electric vehicles can’t run without.
• The richest royal in Europe just keeps getting richer.
• Astronomers spot first-known interstellar comet.

"There are now too many young tech companies that have raised too much money, often at unjustifiably high valuations. Not all investors in private companies will make a profit from the bloated pool of startups. There will be (unicorn) blood. "

Good news in Europe, Republicans push back against Trump, and the bond market’s moment of truth.

European data

Third-quarter GDP growth for the U.K. came in at a slightly faster-than-expected 0.4 percent

Related: boost to the pound

In Germany, business confidence is high. Related: record high in October.

The euro remained little changed. ECB gathering.

Dis-unity

President Donald Trump is facing increasing criticism from his own side Related: “dangerous to democracy.”

Related: criticism could not come at a worse time for Trump

Bond warning

DoubleLine Capital’s Jeffery Gundlach tweeted that the “moment of truth” has come for the U.S. bond bull market.

There is a chance that the bears’ time may finally have come.

Markets flat

Ovenight, the MSCI Asia Pacific Index slipped 0.1 percent, dragged lower by Japanese shares. Related: 16-day rally.

In Europe, the Stoxx 600 Index was 0.1 percent higher at 5:45 a.m.

S&P 500 futures slipped 0.1 percent,

the 10-year Treasury yield was at 2.454 percent

gold was lower.

Coming up…

"none of the economists in a Bloomberg survey expect a change in rates, any hints of another hike in December should add to the Canadian dollar’s strong performance this year. "

Here’s what you should read today

• How China chooses its most powerful leaders.
• Inside Apple’s struggle to get the iPhone X to market on time.
• Global corporate bond drought helps solve low-yield puzzle.
• Bitcoin is paying out dividends now — just not to everyone.
• Japanese carmakers wants to bury the combustion engine.
• Why Venezuela struggles so hard to avoid default.
• Future of U.S. agriculture is supersize farms.

Tax bill due

USA: ambitious schedule for releasing tax legislation over the next few weeks. "changes to 401(k) accounts remain on the table".

Trump announcing his nominee for chair of the Federal Reserve.

PMI day

A composite Purchasing Managers’ Index for the euro area slipped to 55.9 in October. Related: taper asset purchases.

Fraud

Currency trader Mark Johnson was convicted of nine out of 10 fraud and conspiracy counts by a jury in New York yesterday. $10 billion in penalties.

Markets mixed

Overnight, the MSCI Asia Pacific Index climbed 0.1 percent,

Japan’s Nikkei 225 Stock Average extended its record winning streak to a 16th day.

In Europe, the Stoxx 600 Index was 0.1 percent lower at 5:45 a.m.

S&P 500 futures were unchanged after the index ended yesterday’s session lower,

the 10-year Treasury yield was at 2.395 percent, and gold retreated.

Party party over

President Xi Jingping to move to the party’s constitution, putting him alongside Mao Zedong and Deng Xiaoping.

Here’s what you should read today

• Bond traders are piling into a Fed-proof bet.
• BOE policy makers wary of repeating ECB, BOJ mistake.
• Saudi billionaire Alwaleed sees Enron-like demise for bitcoin…
• …While a bitcoin pioneer wants to build a better cryptocurrency.
• Why this stock bear sees no hope for emerging markets.
• Oil just isn’t that important to petrocurrencies right now.
• The universe shouldn’t exist, scientists at CERN conclude.

"There’s plenty of momentum. Earlier this month, Intel researchers unveiled a superconducting chip for quantum computers."

"Investors are getting excited. In June, Blue Yard Capital, a venture capital firm based in Berlin, held a conference on quantum computing"