Quote:
‘Oh, Lord, won’t you buy me a Mercedes Benz?
My friends all drive Porches,
I must make amends.’ Janis Joplin (1943-1970)
The News:
Japan and South Korea PMs meet in Seoul to discuss economic measures to stem recessionary forces.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
13:30 CA November New Housing Price Index (versus –0.4% October).
15:30 CA Q4 Business Outlook and Band of Canada Loan Officer Survey.
17:40 US Fed’s Lockhart speaks on the economic outlook, Atlanta.
23:50 JP December M3 Money Supply (Mizuho Securities +0.6% Y/Y versus +0.6% November).
23:50 JP November Trade Balance (Mizuho Securities +40B Yen, Current Account +510B, vs +145B and +960B Oct).
00:01 GB December RICS House Price Balance (-80% to –74% versus –76% November).
The Psychology:
Coming of Age holiday in Japan today; Martyrs’ Day in Panama.
The Risk:
Old saw says stock markets move over the year the same way they did in the first week of trading.
Today’s most interesting chart: Dow Jones Industrial Average
Negative start to the year.
