Quote:
‘Women now have choices. They can be married, not married, have a job, not have a job, be married with children, unmarried with children. Men have the same choice we’ve always had: work, or prison.’ Tim Allan (1953-)
The News:
New York Times says FDIC planning to ask healthy banks to beef up its depleted coffers rather than borrow directly from the Fed because this might be seen as yet another bank bailout.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
06:45 CH Swiss government update on prospects: GDP –1.7% 2009, +0.4% 2010; CPI –0.4% 2009, +0.9% 2010.
07:15 CH August Trade Balance CHF +1.79B versus +2.21B July.
13:30 CA July Retail Sales (+0.1% to +1.5% M/M, Ex-autos –0.6% to +0.5%, versus +1.0% and +1.0% June).
15:00 US July House Price Index (-0.4% to +0.6% versus +0.5% June).
15:00 US September Richmond Fed Manufacturing Index (10 to 18 versus 14 August).
18:00 US Treasury auction result of two-year TNotes (five and seven year auctions Wednesday).
The Psychology:
Japanese and Eid Al-Fitr holidays in many countries to Wednesday 23rd September.
The Risk:
The US Fed’s FOMC starts a two-day rate-setting meeting (unanimously expected unchanged at 0.25%).
Today’s most interesting chart: NZD
Strongest this year and back up to levels last seen in August 2008 as Q2 Current Account deficit at NZ$10.6B is the narrowest in five years.
