Quote:
‘I am obnoxious to each carping tongue
Who says my hand a needle better fits,
A poet’s pen, all scorn, I should thus wrong;
For such despite they cast on female wits:
If what I do prove well, it won’t advance,
They’ll say it’s stolen, or else it was by chance.’ Anne Bradstreet (1612-1672-)
The News:
Monetary Authority of Singapore devalues the currency band as Q1 GDP drops a record 19.7% Q/Q and 11.5% Y/Y.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
04:45 JP auction result of 30-year JGB: coupon 2.3%, bid-to-cover 3.82, tail 0.08%.
13:30 US March Retail Sales (-0.2% to +1.4%, Ex-autos –0.6% to +0.9%, versus –0.1% and +0.7% February).
13:30 US March PPI (-0.7% to +1.0% M/M, -2.6% to –1.3% Y/Y, versus +0.1% and –1.3% February).
13:30 US March Core PPI (-0.1% to +0.2% M/M, +3.9% to +4.1% Y/Y, versus +0.2% and +4.0% February).
15:00 US February Business Inventories (-1.6% to –0.3% versus –1.1% January).
15:30 US Fed’s Evans speaks on risk management, Chicago; Stern at 21:45.
00:01 GB March RICS House Price Balance (-78% to –75% versus –78% February).
The Psychology:
Passover holiday in Israel today and tomorrow.
The Risk:
Relatively thin markets in this short week.
Today’s most interesting chart: Australian dollar
Strongest since October.
