Quote:
‘I love being the age I am, I just don’t want to look it.’ Christie Brinkley (1954-)
The News:
Politicians continue to bash bankers on their pay and bonuses.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
04:45 JP auction result of ten-year JGB: bid-to-cover 2.88, average yield 1.329%, stop 1.331%.
05:30 AU Reserve Bank of Australia keeps rates unchanged at record low 3.00%.
06:00 JP August Vehicle Sales +2.3% Y/Y versus –4.2% July.
06:45 CH Q2 GDP –0.3% Q/Q, -2.0% Y/Y versus –0.8% and –2.4% Q1.
08:30 CH August PMI (versus 44.3 July).
08:55 DE August Unemployment Change and Unemployed (versus –6K and 8.3% July).
09:30 GB August Manufacturing PMI (versus 50.8 July).
09:30 GB July Net Consumer Credit and on Dwellings (versus +£01.B and +£0.3B June).
09:30 GB July Mortgage Approvals (versus 47.6K June).
10:00 EZ16 July Unemployed (versus 9.4% June).
15:00 US August Manufacturing ISM (versus 48.9 and Prices Paid 55.0 July).
15:00 US July Pending Home Sales (versus +3.6% M/M and +9.2% Y/Y June).
15:00 US July Construction Spending (versus +0.3% June).
Late US August Vehicle Sales (versus Total 11.3M and Domestic 8.4M July).
The Psychology:
Back to school and back to work because it’s September.
The Risk:
EU finance ministers meet in Brussels as star Nigerian bankers face criminal charges on $2.6B bailouts.
Today’s most interesting chart: Eurodollar future
Another new record contract high.
