Scoreboard: Wait for payday

Markets were largely flat as investors awaited the US payrolls report, which will fuel taper speculation.

Stocks were off last night (mixed around zero in Europe) although we can’t read too much into it. The truth is nothing much happened overnight – well nothing to match last week’s shenanigans – and of course we’ve got the US payrolls report tonight. So punters are biding their time. About the only data we saw was the existing home sales report, which fell 1.9 per cent in September. Now this wasn’t as bad as expected (-3.3 per cent) but it comes after a flat outcome in August. Still, at just under 5.3 million, sales are only a touch below average.

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