Quote:
‘We have to hold a mirror up to this country, and see it for what it really is: a country in which mothers offer up their underage daughters in exchange for an illusory notoriety. A country in which no one wants to make sacrifices because fame, money, luck all come with TV. What future has a country like this?’ Veronica Lario (1956-)
The News:
Japan moneylender Aiful Corp needs more money for restructuring.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
06:00 JP Bank of Japan Monthly Report.
06:30 JP August Tokyo Department Store Sales –10.3% Y/Y, Nationwide –8.8%, versus –13.4% and –11.7% July.
07:00 DE August PPI +0.5% M/M, -6.9% Y/Y, versus –1.5% and –7.8% July.
09:30 GB August Public Finances (£11B to £16B, Net Borrowing £13B to £19B, versus £0.2B and £8B July).
09:30 GB August M4 Money Supply (+0.5% to +1.8% M/M, +11.7% to +14.8% Y/Y, versus +1.5% and +14.5% July).
09:30 GB Bank of England Trends in Lending Report.
13:30 CA July Wholesale Sales (-0.1% to +2.5% M/M versus +0.6% June).
00:01 GB September Rightmove House Prices (versus –2.2% M/M and –3.1% Y/Y August).
The Psychology:
Monday 21st to Wednesday 23rd September Japanese holiday (Autumn Equinox) and Eid Al-Fitr holidays in many countries.
The Risk:
‘Quadruple witching’ today in US equities and derivatives.
Today’s most interesting chart: EUR/GBP
FSA tells Lloyds Bank it needs even more money to exit government support programme.
