Quote:
‘I don’t think I can last much longer. He never stops. It must be all those vitamins he takes.’ Joan Collins (on Warren Beatty) (1933-)
The News:
China sells 26B yuan ten-year government bonds at 3.43%, at low end of expectations.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(22:00) US January Vehicle Sales 10.8M, Domestic 8.2M, versus 11.23M and 8.63M December.
00:01 GB January Nationwide Consumer Confidence 73 versus 69 December.
00:01 GB January BRC Shop Price Index +2.3% Y/Y versus +2.2% December as many did not pass on VAT increase.
09:30 GB January Services PMI (55.0 to 59.8 versus 56.8 December).
10:00 EZ16 December Retail Sales (0% to +0.5% M/M, -3.2% to –1.5% Y/Y, versus –1.2% and –4.0% November).
12:30 US January Challenger Job Cuts (versus –72.9% December).
13:00 NO Norges Bank interest rate decision (unanimously expected unchanged at 1.75%); 13:45 news conference.
13:15 US January ADP Employment Change (-110K to –5K versus –84K December).
15:00 US January Non-Manufacturing ISM (49 to 53 versus 50.1 December).
15:00 US Treasury secretary Geithner testifies at House Ways and Means committee on 2011 Budget; also Orszag.
15:00 US Treasury Quarterly Refunding Announcement, news conference and webcast.
18:00 US Fed’s Warsh speaks on regulatory reform, New York.
The Psychology:
Bankers’ pay very much under scrutiny.
The Risk:
The Bank of England’s MPC starts a two-day rate setting meeting (expected unchanged at 0.50%).
Today’s most interesting chart: Nymex Crude Oil
Bouncing from lower edge of broad band.
