Quote:
‘What is most beautiful in virile men is something feminine; what is most beautiful in feminine women is something masculine’. Susan Sontag (1933-2004)
The News:
China October CPI +6.5% Y/Y because of soaring food prices.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP Q3 GDP +0.6% Q/Q, +2.6% Y/Y, Deflator –0.3%, versus –0.3%, revised –1.6% and –0.3% Q2.
00:01 GB October RICS House Price Balance –22.2% versus –14.6% September.
06:00 JP November Bank of Japan Monthly Report. Rates kept on hold at 0.50%. 06:30 Fukui news conference.
08:30 SE Sweden’s Riksbank publishes Minutes of October 29th meeting.
09:30 GB October CPI (+0.1% to +0.6% M/M, +1.8% to +2.1% Y/Y, Core +1.5% to +1.7% Y/Y, versus +0.1%, +1.8% and +1.5% September).
10:00 DE November ZEW Survey (Sentiment –28 to –14, Current 42.4 to 69.5, versus –18.1 and 70.2 October).
10:00 EZ13 November ZEW Survey (-21 to –18 versus –19 October).
10:00 EZ13 September Industrial Production (-0.9% to +0.2% M/M, +3.6% to +5.1% Y/Y, vs +1.2%/+4.3% Aug).
15:00 US November IBD/TIPP Economic Optimism (45 to 48 versus 47.3 October).
18:15 US Fed’s Kroszner speaks on Basel II, New York.
19:00 US October Monthly Budget Statement (-$60.3B to -$50.0B versus -$49.3B September).
20:00 US September Pending Home Sales (-10.7% to +3.0% versus –6.5% August).
The Psychology:
General election in Denmark today. Railway strike in France.
The Risk:
EU Finance Ministers conclude a two-day meeting in Brussels.
Today’s most interesting chart: Nasdaq future
Plummeting as the ‘carry trade’ unwinds.
