Quote:
‘Nothing tastes as good as skinny feels’. Kate Moss (1974-)
The News:
Fitch Ratings downgrades Mexican debt one notch to BBB on stalled reforms and weak public finances.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
05:00 JP October Supermarket Sales –5.2% Y/Y versus –2.4% September. Bank of Japan November Monthly Report.
07:00 DE final Q3 GDP +0.7% Q/Q, -4.8% Y/Y versus +0.7% and –4.8%. 08:15 CH Q3 Payrolls (versus 3.945M Q2).
09:00 DE November IFO (Business Climate 92 to 93.5, Assessment 87.5 to 89, Expectations 96.9 to 97.6, versus 91.9, 87.3 and 96.8 October).
09:30 GB Q3 Total Business Investment (-10.5% to –2.4% Q/Q, -27.8% to –13.7% Y/Y, vs –10.2% and –21.8% Q1).
09:30 GB October BBA Mortgages (43K to 45K versus 42K September).
10:00 EZ16 September Industrial New Orders (+0.5% to +2.8% M/M, -21.8% to –16.0% Y/Y, vs +2.0%/–23.1%).
13:30 US revised Q3 GDP (+2.4% to +3.5% Q/Q annualised, Core PCE +1.4%, versus +3.5% and +1.4%).
14:00 US September CaseShiller House Price Index (-10.3% to –8.3% Y/Y versus –11.32% August).
15:00 US November Consumer Confidence (40.7 to 53.0 versus 47.7 October).
15:00 US September House Price Index (-0.4% to +0.5% M/M versus –0.3% August).
15:00 US November Richmond Fed Manufacturing Index (5 to 11 versus 7 October).
19:00 US Fed’s Minutes of November 4th FOMC.
23:50 JP October Trade Balance (Mizuho Securities 360B Yen versus 525B September).
23:50 JP October Corporate Services Prices (-3.2% to –2.1% Y/Y versus –3.2% September).
The Psychology:
Bank of England’s King, Tucker, et al testify at Treasury Select Committee; 15:35 at Lords.
The Risk:
An estimated 250K Irish public sector workers to strike today protesting planned pay cuts.
Today’s most interesting chart: Shanghai Composite Index
Slipping suddenly, as are B shares.
