Quote:
‘We all have to get used to the fact that quick money is not a healthy business’.
Wendelin Wiedeking (1952-)
The News:
German Economy Minster Glos will resign today.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP January M3 Money Supply +0.9% Y/Y, Bank Lending Inc-Trusts +3.7%, vs +0.7% and +3.7% December.
(23:50) JP December Trade Balance –198B Yen, Current Account +125B, versus -93.4B and +581B November.
(23:50) JP December Machine Orders –1.7% M/M, -26.8% Y/Y, versus –16.2% and –27.7% November.
04:30 JP January Bankruptcies +15.8% Y/Y versus +24.1% December.
05:00 JP January Economy Watchers’ Survey Current 17.1, Outlook 22.1, versus 15.9 and 17.6 December.
06:00 JP January Machine Tool Orders –84.4% Y/Y versus –71.8% December.
07:00 DE December Trade Balance +€6.9B, Current Account +€12.3B, versus +€9.7B and +€8.6B November.
09:30 EZ16 February Sentix Investor Confidence versus –34.4 January.
10:00 DE Economy Ministry Report on response to financial crisis, Berlin.
13:15 CA January Housing Starts (160K to 175K versus 172.2K December).
16:00 EZ16 finance ministers start a two-day meeting, Brussels.
00:01 GB January BRC Retail Sales Monitor.
00:01 GB January RICS House Price Balance (versus –73% December).
The Psychology:
Public outcry over bonus culture as governments try to micro-manage banks.
The Risk:
President Obama’s $800B gets stalled.
Today’s most interesting chart: Nomura Holdings Inc
Gapping lower to lowest price in over 20 years as it announces first issue of common shares.
