Quote:
‘To remain silent and indifferent is the greatest sin of all.’ Elie Wiesel (1919-)
The News:
Protests continue in Thailand and Greece.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP January Tertiary Industry Index +2.9% versus –0.9% December.
05:00 Bank of Japan leaves rates unchanged at 0.10%; increases to 20 trillion yen 3-month money on offer.
09:30 GB February Jobless Change (-15K to +20K, Claimant Count 4.9% to 5.1%, versus +23.5 and 5.0% January).
09:30 GB January Average Earnings (+0.7% to +2.4% Y/Y, Ex-Bonus +0.8% to +1.5%, vs +0.8% and +1.2% Dec).
09:30 GB January ILO Unemployment (7.8% to 8.0% versus 7.8% December).
09:30 GB Bank of England MPC Minutes of March 3/4th meeting.
10:00 EZ16 January Construction Output (versus +0.5% M/M and –3.1% Y/Y December).
10:00 EZ16 Q4 Labour Costs ( +2.3% to +3.0% Y/Y versus +3.2% Q3).
10:00 DE ECB’s Weber speaks on the aftermath of the crisis, Cologne University.
12:30 US February PPI (-0.6% to +0.5% M/M, +4.4% to +5.4% Y/Y, versus +1.4% to +4.6% January).
12:30 US February PPI Ex-Food&Energy (0% to +0.2% M/M, +0.9% to +1.2% Y/Y, vs +0.3% and +1.0% January).
12:30 CA January Wholesale Sales (0% to +1.2% M/M versus +0.7% December).
12:30 CA Q4 Labour Productivity (+0.5% to +1.5% versus –0.2% Q3).
18:00 US Fed’s Bernanke and Paul Volker testify on bank supervision, House Financial Services Committee.
20:30 US Fed’s Fisher speaks on lessons from the crisis response, Dallas, with Bank of England’s Posen.
The Psychology:
Treasury bonds rally as equity indices inch to new recent highs.
The Risk:
FX moves gather momentum.
Today’s most interesting chart: Eurodollar future
Rallying as Fed’s FOMC says rates to remain low.
