Quote:
‘And indeed there will be time
To wonder, ‘Do I dare?’
Time to turn back and descend the stair,
With a bald spot in the middle of my hair…
Do I dare
Disturb the universe?’ T. S. Eliot (1888-1965)
The News:
US Fed’s Bullard says there is not as much slack in the US economy as many think and therefore the risk of inflation might be higher.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
No numbers today.
Overnight 12/13th:
00:01 GB September RICS House Price Balance 12% versus 10.7% August.
00:01 GB September BRC Retail Sales Monitor.
00:50 JP September M2 Money Supply Y/Y, Bank Lending, versus +2.8% and +1.9% August.
The Psychology:
Holidays in Canada, Japan, Brazil, among others, today.
The Risk:
Correction and consolidation in many markets.
Today’s most interesting chart: GBP/CAD
Lowest since 1985 as sterling loses ground against most currencies.
