The U.S. trade deficit shrank due to a larger decrease in imports than exports. Three large French banks have been downgraded by Moody's, England chooses not to partake in a new European Union deal and economic indicators from Germany China, and Japan point downward.
• BEA: U.S. imports declined more than exports; trade deficit shrinks
• MW: Britain rejects Euro-deal, no treaty change, but closer fiscal union
• Moody's: Societe Generale, one of Frances largest banks downgraded to C-
• Bloomberg: German exports fell 3.6% in October
• WP: Chinese inflation slows to 4.2% with slowing economy
• Reuters: Japanese 3Q economic growth revised down 10 basis points
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