US DATA: Oct Industrial Production unch after an unrev -0.2% in Sept,
showing a pause in the Fall (mkt had expected +0.3% for Oct). This put
Cap-Util at 74.8%, still low. But the breakdown is strong — output is
rising and energy use slower. Mfg +0.5% after +0.1%r in Sept (steel,
machinery, chemicals rev higher) but Mining -0.1% and Utilities -3,4%
(third drop in a row) cut production. Utilities drops are due to
“unseasonably warm temperatures.” In mfg, jumps in autos, business eqpt,
construction supplies are boosting IP.