Quote:
‘Watching Tallulah Bankhead on stage is like watching somebody skating over very thin ice – and the English want to be there when she falls through.’ Mrs. Patrick Campbell (1865-1940)
The News:
Ségolène Royal to lead French Socialists at next year’s presidential elections.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
05:30 JP October Tokyo Department Store Sales –1.3% Y/Y, Nationwide –1.9% Y/Y, vs +2.2% and +1.0% September.
10:00 E12 September Trade Balance (-€4.5B to €0B versus -€5.8B August).
12:30 E12 ECB’s Papademos and the Fed’s Fischer speak at a banking conference, Frankfurt.
13:30 US October Housing Starts (1580K to 1780K versus 1772K September).
13:30 US October Building Permits (1550K to 1710K versus 1638K September).
13:45 US Fed’s Pianalto speaks on Universities and economic growth.
The Psychology:
G20 officials hold a two-day meeting in Melbourne.
The Risk:
Markets stop moving at all.
Today’s most interesting chart:
NYMEX Crude Oil Lowest since June 2005.
