-Initial jobless benefit claims reaches the highest level since 1992, with the 4-week average reaching the highest level since 1983, and the level of continuing jobless benefit claims reaching the highest level since 1982.
-Meanwhile, both leading and coincident indicators fell from their previously reported levels while the Philly Fed manufacturing index indicated an accelerating pace of contraction.
-The Swiss National Bank meanwhile seems to be in full panic as it reduced its target rate by a full percentage point, leaving it at 1%. Apparently, the Swiss National Bank believes it is more important to provide short-term stimulus than safe-guarding Switzerland's hard money status, something which is bearish for the Swiss franc.
-The U.K. fiscal situation continues to deteriorate. In October, net borrowings reached £1.4 billion, up from -£1.8 billion (i.e. debt was paid back by £1.8 billion) last year. For the first 7 months of the fiscal year, net borrowing rose from £20.1 billion to £37 billion. The U.K. now looks likely to have the by far biggest fiscal deficit of any major industrialized country except the U.S.
UPDATE: The preliminary purchasing manager survey from the euro area was released after this post was initially posted, but it is certainly consistent with the general theme, to say the least.