Quote:
‘It’s always easier to get forgiveness than permission.’ Banksy (?-)
The News:
SEC accuses Texan cricket promoter Sir Allen Stanford of massive fraud with high yielding CD’s.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
04:00 JP Bank of Japan starts a two-day rate-setting meeting (expected unchanged at 0.10%).
09:30 GB Bank of England Minutes of February 5th MPC meeting.
10:00 EZ15 December Construction Output (versus –1.1% M/M and –4.7% Y/Y November).
11:00 GB February CBI Industrial Trends Survey (-54 to –38 versus –48 January).
13:30 US January Housing Starts (480K to 578K, Building Permits 480K to 565K, versus 550K and 547K December).
13:30 US January Import Price Index (-2.0% to +1.2% M/M, -12.4% to –11.0% Y/Y, vs –4.2% and –9.3% December).
13:30 CA December Wholesale Sales (-3.5% to –0.8% versus –1.6% November).
14:00 US Fed’s Pianalto speaks to commercial developers, Cleveland.
14:15 US January Industrial Production (-2.7% to +0.5%, Capacity Utilisation 71% to 73.3%, vs –2.0%/73.6% Dec).
17:30 US Fed’s Bernanke speaks on Fed’s lending programmes and its balance sheet, Washington.
18:20 US Fed’s Evans speaks on the economic outlook, Illinois.
19:00 US Fed’s Minutes of January 28th FOMC meeting.
The Psychology:
Massive job cuts at US automakers who again go begging for billions of government money.
The Risk:
EU launches disciplinary steps against France, Greece and Spain for exceeding 3% debt to GDP.
Today’s most interesting chart: Dow Jones Transportation Index
Closing below November’s low, same as the Swiss Market Index; strong currency leads to relatively weaker indices.
