Quote:
‘To see the world in a grain of sand
And a heaven in a wild flower,
Hold infinity in the palm of your hand
And eternity in an hour.’ William Blake (1757-1827)
The News:
Bosnia’s ex-president Karadzic arrested in Belgrade for war crimes after 11 years on the run.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP May All Industry Activity Index +0.4% M/M versus +0.8% April
06:00 JP June Supermarket Sales –0.9% Y/Y versus –1.1% May.
08:00 JP June Convenience Store Sales Y/Y versus +3.7% May.
09:45 GB Bank of England’s King, Gieve, Jenkinson and Bailey testify at Treasury Select Committee.
13:10 US Treasury’s Paulson speaks on the economy, New York.
13:30 CA May Retail Sales (+0.1% to +1.2% M/M, Less-autos 0% to +1.3%, versus +0.6% and +1.1% April).
13:30 US Fed’s Plosser speaks on the economy, Pennsylvania.
15:00 US May House Price Index (-0.8% to 0% M/M versus –0.8% April).
18:00 US Treasury auction result of twenty-year TIPS.
The Psychology:
India tight vote of confidence in parliament today. The Risk: Markets mark time.
Today’s most interesting chart: Dow Jones Industrial Average
Rally runs out of steam.
