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1 University Of Balamand Economics and Capital Markets Research Center A BanqueLibano-FrançaisePartnered Initiative Daily Market Watch Tuesday, October 3, 27 Focus on BoJ According to a 8- majority vote, Mr. G Kataoka voted against the action, the Policy Board of the Bank of Japan decided to continue to purchase Japanese government bonds (JGBs) so that their amount outstanding will increase at an annual pace of about 8 trillion yen. The Bank also decided by the same vote, to continue applying a negative interest rate of minus. percent to the Policy-Rate Balances in current accounts held by financial institutions at the Bank. The Bank vote unanimously on continuing to purchase exchange-traded funds (ETFs) so that their amount outstanding will increase at an annual pace of about 6 trillion yen, it will also purchase Japan real estate investment trusts (J-REITs) at an annual pace of about 9 billion yen. As for CP and corporate bonds, the Bank will maintain their amounts outstanding at about 2.2 trillion yen and about 3.2 trillion yen, respectively. United States CaseShiller House Prices Aug MoM.3%.%.3%.4% YoY 6.%.9%.8% - - Chicago PMI Oct Month Consumer Confidence Oct Month US: S&P CASESHILLER HOUSE PRICES (YOY) CaseShiller house prices rose more than expected by.% in August after an upward revised rise of.4% in July. The yearly variation of house prices rose less than expected by.9%, after a previous rise of.8% US: CHICAGO PMI Expected to drop to 62, Chicago PMI rose to 66.2 in October from 6.2 in September

2 3//29 //29 7//2 3//2 //2 7//22 3//23 //23 7//24 3//2 //2 7//26 3//27 US: CONSUMER CONFIDENCE Expected to rise to 2, consumer confidence in the US rose to 2.9 in October after an upward revised reading of 2.6 in September. The present situation component increased to. from 46.9 and the expectations index rose to 9. after 3. Consumers saying jobs are "plentiful" increased to 36.3% from 32.7%. Those saying jobs are "hard to get" decreased to 7.% from 8%. Eurozone FR GDP Q3 QoQ.%.%.%.6% FR Consumer Spending Sep MoM.%.9% -.3% -.2% FR HCPI Oct YoY.%.2%.% - - EZ HCPI Oct YoY.%.4%.% - - EZ GDP Q3 P QoQ.%.6%.6%.7% YoY 2.4% 2.% 2.3% - - EZ Unemployment Rate Sep Month 9.% 8.9% 9.% 9.% FRANCE: GDP (QOQ) France s GDP increased as expected by.% in Q3 after an upward revised rise of.6% in Q2. Investment rose by.%, public consumption rose by.%, exports increased by.7%, and imports increased by 2.% with respect to the previous quarter. Domestic demand s contribution to GDP was.4%, and stock variations.6%. While trade balance contributed negatively by.6% FRANCE: CONSUMER SPENDING Consumer spending in France rose more than expected by.9% in September after an upward revised drop of.2% in August. FRANCE: HCPI (YOY)..2. Expected to stagnate at.%, the French preliminary price index increased to.2%.. Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q

3 3//2 4//22 //23 6//24 7//2 8//26 9//27 //28 //29 2//2 //22 2//23 3//24 4//2 //26 EUROZONE: HCPI (YOY) EUROZONE: GDP (QOQ) Expected to stagnate at.%, the preliminary reading of harmonized inflation rate in the euro zone fell to.4% in October. The revised reading of euro zone s GDP expanded by.6% in Q3 after an upward revised expansion of.7% in Q2. Its yearly variation expanded more than expected by 2.% after expanding by 2.3%. EUROZONE: UNEMPLOYMENT RATE United Kingdom Gfk Consumer Confidence Oct Month UK: GFK CONSUMER CONFIDENCE The euro zone unemployment rate fell to 8.9% in September after a downward revised reading of 9% in August. The number of unemployed people decreased to 8.446m from 8.62m. GFK consumer confidence in Britain deteriorated as expected to - in October after -9 in September. Personal finance outlook for the last 2 months rose to from -, but remained unchanged at 4 for the next 2 months. The outlook of the economic situation for the last 2 months fell to -29 from -28 and fell to -26 from -24 for the next 2 months. Big purchases climate rose to 3 from.

4 //27 //27 9//28 7//29 //2 3//2 //22 //22 9//23 7//24 //2 3//26 //27 Japan Household Spending Sep MoM.%.4%.2% - - YoY.7% -.3%.6% - - Unemployment Rate Sep Month 2.8% 2.8% 2.8% - - Jobs to applicant ratio Sep Month Industrial Output Sep MoM -.% -.% 2.% - - Construction Orders Sep YoY % -.6% - - Housing Starts Sep YoY -3.6% -2.9% -2.% - - JAPAN: HOUSEHOLD SPENDING (YOY) Japanese household spending increased more than expected by.4% in September after a previous rise of.2% in August. Expected to increase, the yearly variation decreased by.3% after rising by.6% JAPAN: UNEMPLOYMENT RATE 4. 4 Japans unemployment rate stagnated at 2.8% in September as expected. Jobs-to-applicant ratio remained at JAPAN: INDUSTRIAL OUTPUT Japan s primary reading of industrial output decreased less than expected by.% in September after a previous increase of 2% in August.

5 JAPAN: CONSTRUCTION ORDERS (YOY) On a yearly basis, Japanese construction orders decreased by.6% in September after previously dropping by.6% in August JAPAN: HOUSING STARTS (YOY) China NBS Non-manufacturing PMI Oct Month NBS Manufacturing PMI Oct Month CHINA: NBS NON-MANUFACTURING PMI Japanese housing starts decreased less than expected by 2.9% in September after falling by 2% in August. China s NBS non-manufacturing PMI decreased to 4.3 in October after a previous reading of.4 in September CHINA: NBS MANUFACTURING PMI Chinese NBS manufacturing PMI decreased more than expected to.6 in October from 2.4 in September