Quote:
‘When you buy a V-necked sweater there’s a V of material missing. You know what they do with that? They send it to Ann Summers and she makes those fancy pants.’ Harry Hill (1964-)
The News:
Swiss banks and government in a tizzy over bank secrecy and tax evasion.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP December All Industry Activity Index –2.7% M/M versus revised –2.4% November.
05:00 JP February Bank of Japan Monthly Report: company profits deteriorating more quickly.
07:00 JP January Convenience Store Sales +7.0% Y/Y versus +6.1% December.
08:00 EZ16 ECB’s Trichet speaks in Paris.
08:30 DE February Manufacturing PMI (31 to 33.2, Services 43.5 to 46.5, versus 32 and 45.2 January).
09:00 EZ16 February Manufacturing PMI (33.7 to 36, Services 41 to 43.5, Composite 38 to 39, vs 34.4/42.2/38.3 Jan).
09:30 GB January Retail Sales (-1.5% to +1.0% M/M, +0.7% to +3.6% Y/Y, versus +1.6% and +4.0% December).
12:00 CA January CPI (-0.5% to +0.3% M/M, +0.7% to +1.7% Y/Y, versus –0.7% and +1.2% December).
12:00 CA January Core CPI (-0.3% to 0% M/M, +2.0% to +2.3% Y/Y, versus –0.4% and +2.4% December).
13:30 US January CPI (+0.1% to +0.6% M/M, -0.8% to +0.2% Y/Y, versus –0.8% and +0.1% December).
13:30 US January CPI Ex-Food&Energy (0% to +0.2% M/M, +1.3% to +1.7% Y/Y, versus 0% and +1.8% December).
The Psychology:
Carnival starts today and holidays in several countries until next week’s Ash Wednesday.
The Risk:
T.
Today’s most interesting chart: South Korean won
Weakest since March 1998 Asia crisis, foreigners sell Seoul shares, as Mrs Clinton visits saying North Korea must to more to improve relations with the US.
