Quote:
‘A successful man is one who makes more money than his wife can spend. A successful woman is one who can find such a man’. Lana Turner (1921-1995)
The News:
Fed Minutes show they are more confident on economic recovery; not worried on inflation.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP October Trade Balance 807B Yen versus 525B September.
(23:50) JP October Corporate Services Prices –2.2% Y/Y versus –3.2% September.
05:00 JP November Small Business Confidence 43.0 versus 43.4 October.
07:00 DE December GfK Consumer Confidence 3.7 versus 4.0 November.
09:30 GB Q3 revised GDP (-0.4% to –0.2% Q/Q, -5.2% to –5.0% Y/Y, versus –0.4% and –5.2%).
09:30 GB September Index of Services (-0.1% to +0.3% 3M/3M versus –0.1% August).
13:30 US October Personal Income (0% to +0.4% M/M, Spending +0.3% to +0.7%, vs 0% and –0.5% September).
13:30 US October Core PCE (+0.1% to +0.2% M/M, +1.3% to +1.5% Y/Y, versus +0.1% and +1.3% September).
13:30 US October Durable Goods Orders (-1.0% to +2.1%, Ex-Transport –0.6% to +1.5%, vs +1.4%/+1.2% Sep).
13:30 US Weekly Jobless Claims (460K to 512K, Continuing Claims 5400K to 5630K, vs 505K and 5611K prior week).
14:55 US November final University of Michigan Confidence Survey (65 to 72 versus 66).
15:00 US October New Home Sales (350K to 425K versus 402K September).
23:50 JP Bank of Japan MPC Minutes of October 30th.
The Psychology:
US and UAE Thanksgiving holiday tomorrow.
The Risk:
US FDIC running at -$8.2B balance as problem banks hit 552, first shortfall since 1992.
Today’s most interesting chart: US 5-year TNote future
Strongest close since April.
