Quote:
‘There cannot be a crisis next week. My schedule is already full.’ Henry Kissinger (1923-)
The News:
Citigroup bailed out by the US government; Standard Chartered in a new rights issue at 49% discount.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
From today GB November Nationwide House Prices (-2.0% to –1.3% M/M, -16.0% to –14.7% Y/Y, versus –1.4% and –14.6% October).
09:00 DE November IFO Business Climate (88 to 90, Current 95 to 99.5, Expectations 80 to 84.5, versus 90.2, 99.9 and 81.4 October).
10:00 EZ15 September Industrial New Orders (-3.7% to +0.2 M/M, -3.5% to –0.6% Y/Y, vs –1.2 and –6.6% August).
15:00 US October Existing Home Sales (4.60M to 5.20M versus 5.18M September).
15:30 GB Chancellor Darling presents his second pre-Budget report.
The Psychology:
Labour Thanksgiving holiday in Japan today; Oman, UAE and US on Thursday.
The Risk:
UK Chancellor presents his second pre-Budget report to parliament.
Today’s most interesting chart: Euro/Swedish krona
Weakest ever as Scandinavia under pressure.
