Quote:
‘I think the time has come to re-tool the look, as they say. I mean, how long will these cheeks hold up?’ Kylie Minogue on hanging up her hot pants (1969-)
The News:
Japanese finance minister Nakagawa denies he was drunk at a G7 news conference but says taking medicines and drinking alcohol on the flight to Rome may have affected him badly.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP Q4 GDP –3.3% Q/Q, -12.7% Y/Y (worst since first oil crisis 35 years ago as exports slump), Deflator +0.9%, versus revised –0.6%, –2.3% and –1.6% Q3.
00:01 GB February Rightmove House Prices +1.2% M/M, -9.1% Y/Y, versus –1.9% and –7.3% January.
04:00 JP January Tokyo Condominium Sales –24.1% Y/Y versus –18.2% December.
13:30 CA December Manufacturing Shipments (-8.0% to –1.5% versus –6.4% November).
13:30 CA December International Securities Transactions (versus –C$4.3B November).
14:00 GB Bank of England’s Bean speaks at the National Farmers Union annual conference, Birmingham.
14:00 US Fed’s Elizabeth Duke speaks on stabilising the housing market, Phoenix.
14:45 EZ16 ECB’s Trichet speaks at the European Parliament on economic recovery, Brussels.
23:50 JP December Tertiary Industry Index (Mizuho Securities –1.9% M/M versus –0.9%November).
The Psychology:
Holidays today in Canada and the US.
The Risk:
Irish Credit Default Swaps widen further.
Today’s most interesting chart: Dow Jones Industrial Average
Lowest weekly close since March 2003.
