Quote:
‘I wonder by my troth, what thou and I
Did, till we loved? Were we not weaned till then?
But sucked on country pleasures, childishly?
Or snorted we in the seven sleepers’ den?’ John Donne (c. 1572-1631)
The News:
Republican Senator Judd Gregg, Obama’s nomination for commerce secretary, turns down the job.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
07:00 DE Q4 GDP –2.1% Q/Q (lowest since 1987), -1.7% Y/Y (worst since 1993), versus –0.5% and +0.8% Q3 2008.
07:00 EU27 January New Car Registrations –26.9% versus –18.2% December.
08:00 DE Bundestag to vote on second stimulus package, Berlin.
08:15 CH January PPI (-1.0% to +0.3% M/M, -1.1% to +0.3% Y/Y, versus –0.7% and +0.4% December).
08:30 G7 finance ministers and central bankers’ start a two-day meeting, Rome.
10:00 EZ15 Q4 GDP (-1.8% to –1.0% Q/Q, -1.6% to –0.7% Y/Y, versus –0.2% and +0.6% Q3 2008).
13:30 CA December New Vehicle Sales (-15.0% to –10.0% M/M versus –7.0% November).
14:00 US fixed income markets close early ahead of President’s Day holiday on Monday; also a holiday in Canada.
15:00 US February University of Michigan Confidence Survey (56.5 to 64.0 versus 61.2 January).
The Psychology:
Friday 13th, unlucky for some. Valentine’s Day tomorrow, boys, and don’t forget the Missus!
The Risk:
Inconclusive closes on the weekly charts.
Today’s most interesting chart: German 2-year Shatz yield
Record low 1.29%.
