In the Markets
* BOE minutes expected to show 1-7-1 vote split, with Besley in favour of rate hike
* UK July public sector nb seen at GBP -5.0bln (median -4.3), versus -6.3bln
* European calendar also has U.K. July M4 and Aug CBI manufacturing orders survey
* US calendar Thursday has initial claims, July leading indicators and August Philly Fed
* Canadian calendar has June retail sales, July leading indicator and 2yr bond auction
* Japan June all industry index fell 0.9% m/m, a further reflection of recent faltering
* Asia stocks firmer, mostly; China surge on speculation about $58bln stimulus plan
* USD on softer bias amid firmer oil prices, sharp Wall St losses on financial angst
* FED’s Lacker: rates shouldn’t go lower, credit stresses shouldn’t tie Fed’s hands
* FED’s Fisher: must be poised to act if slowing growth fails to curb inflation
* Freddie Mac priced $3 bln 5-year ref note at +113 bp as per price guidance
* US treasury yields rebounded Tuesday on hot core PPI reading, curve steepened
* Big US bank failure likely, worst of financial crisis yet to come, Harvard’s Rogoff
* NYMEX crude holds firm after Tuesday’s $4-plus short-covering rally from sub-$112