Northern,WI  9/25/2012 (BasicsMedia)  —  3 Things to Know Before Markets Open today are as follows:

Stocks were broadly weaker in Asian trade. The Nikkei was among the worst with a two percent decline, Shanghai lost one and a quarter percent, the Hang Seng fell 0.8% and Australia slipped a quarter percent. European indexes are on sale this morning, with the Footsie off a bit more than one percent and the Dax down more than one and a half percent; but Spain is down more than three percent. US stock futures are down a slight fraction as I write.

*Thousands of protesters are in the streets of Athens this morning; some of the video makes it look to be bordering on a riot. Spanish protesters are planning a second night of protests in Madrid; remember the Parliament there is supposed to vote on an austerity budget tomorrow morning at about 7:00am CDT. By the way, Spanish 10 Year yield up more than twenty basis points this morning, over 5.90% for the first time in a few weeks.

*German states are reporting the September reading of their Consumer Price Indexes this morning, including: Saxony, +0.2% month on month and +2.0% year on year; Brandenburg -0.2% and +1.9$; Hesse 0.0% and +2.0%; and Bavaria -0.2% and +2.3%. The national reading of the CPI is due out at 7:00am CDT; it is expected to be 0.0% on a monthly basis and +2.1% year on year for the EU harmonized version.

*US mortgage applications were up 2.8%  in the week ended September 21, according to the Mortgage Bankers Association. Applications for purchase were up 0.7% in the week and those for Refinancing rose 3.3%.

*The August reading of New Home Sales is due out at 9:00am CDT. Sales are expected to be up 2.2% from the month before to an annualized rate of 380k units.

*The weekly report on energy inventories is due out at 9:30am CDT. Stocks of Crude Oil are forecast to increase 1.9 million barrels, Gasoline inventories are expected to rise 500k and the estimate for Distillates is +500k.

*The Fed is scheduled to buy Treasuries today that are due to mature between 9/30/18 and 8/15/20; the results of the operation will be announced just after 10:00am CDT.

*The Treasury plans to sell $35 billion 5 Year Notes today; the auction results will be announced just after noon CDT.

*Chicago Fed boss Evans is scheduled to speak at 12:15pm CDT.

*World leaders are still running about in NYC for the UN General Assembly.

 

 

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