Quote:
‘Always give them the old fire. Even when you feel like a squashed cake of ice’. Ethel Merman (1908-1984)
The News:
Abu Dhabi Investment Authority buys 4.9%, $7.5B, of Citigroup.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
From today DE November CPI for the different German states.
07:00 DE November IFO (Climate 101.4 to 104, Assessment 107.1 to 109.7, Expectations 96.1 to 98.6, versus 103.9, 109.6 and 98.6 October).
08:15 CH October PPI (+0.1% to +0.5% M/M, +2.6% to +3.0% Y/Y, versus –0.3% and +2.4% September).
14:00 US September S&P/Case-Shiller House Prices (-5.5% to –4.6% Y/Y, Q3 –4.5% to –3.8% Y/Y, versus –4.4% August and –3.2% Q2).
15:00 US November Consumer Confidence (Mizuho Securities 90.0 [88 to 96] versus 95.6 October).
15:00 US November Richmond Fed Manufacturing Index (-6 to 0 versus –5 October).
16:15 GB Bank of England’s Blanchflower testifies to parliament.
17:20 US Fed’s Plosser speaks on the economic outlook, Rochester.
18:30 US Fed’s Evans speaks at futures industry do, Chicago.
18:45 GB Bank of England’s Sentance speaks, London.
23:50 JP October Large Retailers’ Sales (-2.2% to +2.9% Y/Y versus –2.0% September).
23:50 JP October Retail Trade (-0.5% to +0.7% M/M, -0.2% to +1.2% Y/Y, versus –1.5% and +0.5% September).
The Psychology:
Almunia, Junker and Trichet meet today and tomorrow with Chinese authorities.
The Risk:
Stock indices test August lows.
Today’s most interesting chart: Benchmark US 30-year TBond yield
Collapsing.
