Quote:
‘Anything’s possible if you’ve got enough nerve.’ J. K. Rowling (1965-)
The News:
Four arrested in Melbourne charged with plotting a suicide attack on a military base.
The Numbers:
British Summer Time, with expectations and previous figures in brackets. 00:50 JP July Monetary Base +6.1% versus +6.4% Y/Y June.
04:45 JP auction of 2.21 trillion ten-year JGB: bid-to-cover 2.91, coupon 1.50%, average yield 1.452%, tail 0.03%.
05:30 AU Reserve Bank of Australia keeps cash rate at 3.00%, drops its easing bias.
08:15 CH July CPI (-0.8% to –0.2% M/M, -1.3% to –0.8% Y/Y, versus +0.2% and –1.0% June).
09:30 GB July Construction PMI (44 to 46 versus 44.5 June).
10:00 EZ16 June PPI (-0.3% to +0.5% M/M, -6.9% to –6.2% Y/Y, versus –0.2% and –5.8% May).
10:30 GB auction result of £2.5B 4.25% 2027 Gilt.
13:30 US June Personal Income (-1.6% to +1.0%, Spending –0.3% to +0.7%, versus +1.4% and +0.3% May).
13:30 US June Core PCE (+0.1% to +0.2% M/M, +1.5% to +1.8% Y/Y, versus +0.1% and +1.8% May).
13:30 US June PCE Deflator (-0.2% to +0.5% Y/Y versus +0.1% May).
14:30 US Fed’s Tarullo testifies on bank regulation with FDIC’s Bair and Comptroller of the Currency Dugan, Senate Banking Committee, Washington.
15:00 US June Pending Home Sales (+0.1% [Mizuho Securities] to +3.0% versus +0.1% May).
00:01 GB July Nationwide Consumer Confidence (56 to 62 versus 58 May).
The Psychology:
Even more excitement as equity indices reach even higher highs.
The Risk:
Some companies do well, others don’t.
Today’s most interesting chart: Nymex Gasoline
Highest since October, above $2 per gallon.
