LiveWire

The annual core inflation for the Euro Area climbed to 1.9% in September, its highest rate since December 2008. If we include the volatile prices of energy, alcohol and food, we obtain an inflation rate of 3.4% year over year in September, well above the ECB's 2% target. Meanwhile, the consumer price index was up 0.5% month over month for September. Source: Trading Economics

Housing starts fell by 1.6% MoM in the US, to 1.555 million for the month of September, vs. a 1.62 million market forecast. It is their lowest level in 5 months. Source: Trading Economics, US Census Bureau

Many Wall Street strategists bet on ever so low Treasury yields, but the market seems to be moving against them in a global bond sell-off. Since the Fed's meeting in September, there are mounting expectations of an interest-rate hike to counter accelerating inflation. Source: Bloomberg

Construction outputs in Europe were down 1.6% in August compared to previous year, which marks the first month of contraction since the recovery that started in March. Source: Eurostat, TradingEconomics

European gas prices surged 9% to above 100 euros a megawatt-hour, after a pipeline capacity auction held on Monday showed no increase in supplies from Russia either through the Ukrainian pipeline or lines passing through Poland to northwest Europe. Gazprom's data also showed its gas exports declined in the first half of October from the same period in September. The natural gas market took a breath from a record high of 162.125 hit on October 5th after President Vladimir Putin signaled Russia would help Europe to grapple sky-high energy prices by delivering more via Ukraine. Gas prices are up more than 400% so far this year, amid a strong rebound in demand and reduced inventories ahead of the winter season. At the same time, heating demand is expected to increase due to forecasts of below-normal temperatures while wind generation is set to drop.