Quote:
‘After the kiss comes the impulse to throttle.’ W. H. Auden (1907-1973)
The News:
Somali pirates hijack two more ships on Tuesday and fire at two others.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB March RICS House Price Balance -73% versus –78% February.
05:00 JP March Tokyo Condominium Sales –46.2% Y/Y versus –27.5% February.
07:00 DE March Wholesale Prices –0.9% M/M, -8.0% Y/Y, versus –0.1% and –5.7% February.
09:30 GB February DCLG House Prices (versus –11.5% Y/Y January).
10:15 EZ16 ECB’s Weber speaks on how to get out of the crisis, Hamburg.
13:30 US March CPI (-0.2% to +0.5% M/M, -0.4% to +0.2% Y/Y, versus +0.4% and +0.2% February).
13:30 US March Core CPI (-0.1% to +0.2% M/M, +1.5% to +1.8% Y/Y, versus +0.2% and +1.8% February).
13:30 US April Empire State Manufacturing Survey (-49.1 to –25.0 versus –38.2 March).
13:30 CA February New Vehicle Sales (-3.0% to –2.0% M/M versus +5.5% January).
14:00 US February Net TIC Flows (-$20B to +$50B versus –$43B January).
14:15 US March Industrial Production (-1.8% to 0%, Capacity Utilisation 69% to 70%, versus –1.5% and 70.2% Feb).
18:00 US April NAHB Housing Market Index (8 to 12 versus 9 March).
19:00 US Fed’s Beige Book.
00:01 GB March BRC Retail Sales Monitor.
The Psychology:
Germany’s DIW Institute cannot forecast 2010 economy as too difficult, ‘unsafe and imprecise’.
The Risk:
Relatively thin markets in this short week.
Today’s most interesting chart: Benchmark US 5-year US TNote yield
Dropping a little.
