Quote:
‘That best portion of a good man’s life;
His little, nameless, unremembered acts
Of kindness and love.’ William Wordsworth (1770-1850)
The News:
A worldwide BBC Survey of 22,000 has a majority approving government stimulus packages to ease the financial crisis but most feel these have been disappointing.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
05:00 JP August Tokyo Condominium Sales –6.2% versus –9.1% July.
08:15 CH August PPI (versus 0% M/M and –6.1% Y/Y July).
10:00 EZ16 July Industrial Production (-0.9% to 0% M/M, -17.2% to –15.8% Y/Y, versus –0.6% and –17.0% June).
13:30 CA Q2 Capacity Utilisation (64.0% to 66.5% versus 69.3% Q1).
13:35 US Fed’s Duke speaks on accounting issues, Washington.
17:30 US Fed’s Lacker speaks on financial regulation, Charlotte.
20:50 US Fed’s Yellen speaks on the economic outlook, San Francisco.
00:01 GB August RICS House Price Balance (-6.0% to +10.0% versus –8.1% July).
The Psychology:
Parliamentary elections in Norway today.
The Risk:
Nervy investors continue piling into Treasuries.
Today’s most interesting chart: Euribor future Dec09
Three-month Libor is a lot less than 1.00%.
