Quote:
‘Distrust any event that requires new clothes.’ Philip Larkin (1922-1985)
The News:
Violent street protests in Colombia as slum dwellers loose their savings in pyramid schemes.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP October Domestic CGPI –1.6% M/M, +4.8% Y/Y, versus revised –0.6% and +6.8% September.
04:00 JP October Tokyo Condominium Sales –26.0% Y/Y versus –53.3% September.
07:00 DE Q3 GDP –0.5% Q/Q, +0.8% Y/Y, versus revised –0.4% and +1.9% Q2.
08:15 CH October PPI (-0.9% to –0.2% M/M, +2.5% to +3.2% Y/Y, versus –0.5% and +3.7% September).
09:00 EZ15 ECB Monthly Bulletin.
10:00 CH November ZEW Index (-102 to –80 versus –91.1 October).
13:00 ECB’s Weber, Papademos, and Tumpel-Gugerell speak at 5th ECB Central Banking Conference, Frankfurt.
13:30 US Weekly Jobless Claims (465K to 500K, Continuing Claims 3700K to 3900K, vs 481K and 3843K prior week).
13:30 US September Trade Balance (-$59B to -$53B versus -$59.1B August).
13:30 CA September Trade Balance (+C$1.2B to +C$5.5B versus +C$5.8B August).
17:00 US Fed’s Plosser speaks on the economy, Philadelphia, Stern at 19:00 Winona University, Minnesota.
18:55 US President Bush comments on financial markets and G20 finance ministers meet ahead of leaders’ summit Sat.
19:00 US October Monthly Budget Statement (-$232B to -$80B versus -$56.8B September).
The Psychology:
Hedge fund managers have to explain their businesses to US authorities.
The Risk:
Treasury auctions in Italy, UK and US (30-year TBond).
Today’s most interesting chart: Australian S&P/ASX 200 Index
Lower than October’s low.
