• Markets are cheering the deal struck by EU leaders to reduce Greek debt obligation, and to leverage the EFSF. Implementation details need to be nailed down in order for the plan to achieve longer-term success. From Reuters News.
• Estimates for consumer spending and corporate capital expenditures improved in Q3, which should boost today’s U.S. GDP data. Average estimates predict 2.5% annual growth, but calls for a higher number are increasing. From Reuters News.
• The U.S. supercommittee for debt reduction is still at an impasse as it heads into an important week. The Congressional Budget Office is looking for an agreement by November 1st so that it can measure the results. From Bloomberg News.
• Massachusetts filed a civil lawsuit against BNY Mellon, seeking $30 million in damages. Regulators claim the bank overcharged the state’s pension funds, private firms, universities and banks on currency processing. Various suits are seeking more than $2 billion in damages from the bank. From the Wall Street Journal.