Quote:
‘Dogs have no money. Isn’t that amazing? They’re broke their entire lives. But they get through. You know why dogs have no money? No pockets.’ Jerry Seinfeld (1954-)
The News:
Russian Q3 GDP –8.9% Y/Y.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
05:00 JP November Consumer Confidence 39.9, Households 39.5, versus 40.8 and 40.5 October.
09:30 GB November PPI Input(-0.2% to +0.2% M/M, +2.4% to +6.2% Y/Y, versus +2.6% and +0.1% October).
09:30 GB November PPI Output (+0.1% to +0.5% M/M, +2.3% to +3.3% Y/Y, versus +0.2% and +1.7% October).
12:15 GB ECB’s Trichet at The Economist’s City Lecture, London.
13:30 US November Retail Sales (+0.2% to +1.3%, Ex-Autos 0% to +0.9%, versus +1.4% and +0.2% October).
13:30 US November Import Price Index (+0.6% to +2.0% M/M, +2.5% to +3.7% Y/Y, vs +0.7% and –5.7% October).
13:30 CA October New Housing Price Index (+0.2% to +0.4% M/M versus +0.5% September).
15:00 US December University of Michigan Confidence Survey (66 to 74 versus 67.4 November).
15:00 US October Business Inventories (-0.7% to +0.4% versus –0.4% September).
The Psychology:
Sovereign debt under scrutiny.
The Risk:
Markets creeping sideways.
Today’s most interesting chart: Saudi Arabia benchmark index
Dragged lower by Dubai.
