TUESDAY 10/13/15; China Trade Data; Swiss Impose New Banking Rules; Global Deflation Persists; JNJ; Biotechs Bashed; Bank Earnings Begin; JPM; INTC; CSX

Asian indexes begin trading mixed with the ASX down -0.2% and New Zealand stocks are up +0.5% extending a couple-day rally. Aussie dollar 0.7359. Dollar/yen 120.02. Nikkei Index futures point to a lower open for the NIKK after yesterday’s holiday. US futures are flat. S&P -1. Dow -2. Nasdaq -3. Global traders are focused on the imminent China trade data.

Euro 1.1357. Dollar/yen 120.03. Pound 1.5342. Aussie dollar 0.7360. Dollar/yuan 6.3235. WTIC oil 47.60. Brent oil 49.86. Natural gas 2.54. Gold 1163. Silver 15.82. Copper 2.4130.

The US bond market will be trading today after the Columbus holiday yesterday. Treasury yields are; 2-year 0.64%, 5-year 1.40%, 10-year 2.09%, 30-year 2.92%. The 2-10 spread is 145 basis points. The 5-30 spread is 152 basis points.

China Import and Export data is disappointing. Imports plummet -20.4% last month year-on-year versus the -15% expected and below the prior month’s -13.8% decrease. China Exports drop -3.7% better than the -6.3% expected and the prior month’s -5.5% but economic weakness persists. The China trade surplus is 





















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