Quote:
‘Never too old, never too late, never too sick or never too bald, to start from scratch and beginagain’. Bikram Choudhury (1946-)
The News:
Indonesia central bank deputy governor plays down threat of capital controls on short term debt.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
08:40 DE ECB’s Trichet speaks at an insurance industry do, Frankfurt.
09:00 EZ16 September Current Account (versus -€1.3B August).
09:30 GB Bank of England Minutes from its 4/5th November MPC meeting.
10:00 EZ16 September Construction Output (versus –0.4% M/M and –11.3% Y/Y August).
11:00 GB November CBI Industrial Trends Survey (-53 to –45 versus –51 October).
12:00 CA October CPI (-0.3% to +0.3% M/M, -0.1% to +0.4% Y/Y, versus 0% and –0.9% September).
12:00 CA October Core CPI (-0.2% to +0.2% M/M, +1.5% to +1.8% Y/Y, versus +0.3% and +1.5% September).
13:30 US October CPI (0% to +0.3% M/M, -0.5% to +0.1% Y/Y, versus +0.2% and –1.3% September).
13:30 US October CPI Ex-Food & Energy (0% to +0.2% M/M, +1.5% to +1.7% Y/Y, vs +0.2% and +1.5% Sep).
13:30 US October Housing Starts (570K to 630K, Building Permits 552K to 620K, vs 590K and 575K September).
14:15 US Fed’s Bullard speaks on the economic outlook, Clayton, Missouri.
04:45 US Fed’s Plosser speaks on international stability, Singapore.
The Psychology:
Bankers are loathed more than any other profession and politicians trying to capitalise on this.
The Risk:
Short term interest rates drop closer to zero.
Today’s most interesting chart: Japanese Banks Index
Retesting lows of March09 and April03.
