ISM non-manufacturing index (December): remaining deeply in contraction zone Factory orders (November): sharply declining again Labour market (December): unemployment rate could jump to 7.0% Construction spending fell by 1.2% mom in October, as private commercial construction spending declined, thus adding to the ongoing plunge in residential spending. Given the very low levels of housing starts and the general recession, we expect construction spending to have fallen by 1.5% mom in November.
German retail sales (October): up slightly
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EMU inflation flash estimate (December): down to 1.6% yoy EMU industrial confidence and economic sentiment (December): down German adjusted unemployment (December): beginning to rise German industrial new orders (October): down Output in the German producing sector (October): down German retail sales (October): up slightly German industrial new orders and output in the German producing sector probably have continued decreasing in November because all correlated climate indicators deteriorated.
Monday, January 05, 2009 Economic 10:00am Nov Construction Spending (last –1.2%) 11:00am US Treasury Note Announcement 1:00pm 3 and 6 month bill auction Events 1:15pm Fed’s Yellen panel discussion on subprime loans , MacWorld Conference through Jan 9, Domestic and Total Vehicle Sales, Trades Ex-dividend: GPS $0.085 Earnings Before the Open: None Seen After the Close: MOS Tuesday, January 06, 2009 Economic 10:00am Dec ISM Non manufacturing (last 37.3), Nov Factory Orders (last
Monday, December 29, 2008 Economic None Seen Events CapitalOne Southcoast Energy Conference, WINS shareholder meeting TradesEx-dividend: BXP $0.68, CAH $0.14, DE $0.28, USB $0.425, XRX $0.043 Earnings Before the Open: CALM After the Close: ONSM, RICK, SHFL Tuesday, December 30, 2008 Economic 9:00am S&P Case Shiller Home price index (last 161.6), Composite-20 y/y (last –17.4%) 9:45am Dec Chicago PMI (last 33.8) 10:00am Dec Consumer Confidence (last 44.9), TAF results 3:00pm TSLF
Week of 12/22/2008 thru 12/26/2008
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Monday, December 22, 2008 Economic 1:00pm Treasury’s two-year note auction 3:00pm TSLF announcement Events Trades Ex-dividend: MO $0.32, SWY $0.083, FLS $0.25. Earnings Before the Open: SCS, WAG. After the Close: RHT, TIBX Tuesday, December 23, 2008 Economic 8:30am Q3 final GDP (prelim -0.5%), Q3 GDP Price Index (prelim 4.2%), Q3 Personal Consumption (prelim -3.7%), Q3 Core PCE q/q (last 2.6%) 9:55am Dec University of Michigan Confidence (last 59.1) 10:00am Nov NewHome Sales (last 433K, m/m
PCE core deflator (Nov): entering the Fed’s comfort zone
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Consumer confidence indicators (Dec): declining due to marked falls in employment Durable goods orders (Nov): ongoing sharp downward trend PCE core deflator (Nov): entering the Fed’s comfort zone ISM manufacturing index (Dec): again indicating recession in the overall economy The final GDP figures for Q3 might show a slight downward revision to an annualised –0.6% qoq, as net exports are likely to have contributed somewhat less than initially estimated. Existing home sales fell by 3.1% mom in
German CPI (December): down to 1.0 % yoy
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M3 growth (November): slowed to 8.3% yoy The German Länder will start publishing regional CPI data for December the week after Christmas. The preliminary results for national German CPI are due to be released on 30 December at the latest. We expect German consumer prices to have increased by 0.2% mom; this would bring down the annual rate further from 1.4% to 1.0%. The sharper fall in gasoline and heating oil prices could have reduced the consumer price index by a good 0.5 percentage points
Australia Thu, Jan 1 2009 New Year’s Day Mon, Jan 26 2009 Australia Day Fri, Apr 10 2009 Good Friday Mon, Apr 13 2009 Easter Monday Sat, Apr 25 2009 ANZAC Day Mon, Jun 8 2009 Queen’s Birthday Mon, Aug 3 2009 August Bank Holiday Mon, Oct 6 2009 Labour Day Fri, Dec 25 2009 Christmas Day Sat, Dec 26 2009 Boxing Day Canada Thu, Jan 1 2009 New Year’s Day Fri, Apr 10 2009 Good Friday Mon, Apr 13 2009 Eastern Monday Mon, May 18 2009 Victoria Day Wed, Jul 1 2009 Canada Day Mon, Aug 3 2009 Civic
FOMC: fed funds rate set to fall to new record low
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NY Empire manufacturing and Philadelphia Fed index (December): decreasing further Industrial production and leading indicators (November): downward trend accelerating CPI (November): disinflation proceeding rapidly FOMC: fed funds rate set to fall to new record low Housing starts (November): NAHB signalling further sharp decline The New York Empire manufacturing index fell to –25.4 in November, the lowest level since its introduction in July 2001. We expect the New York Empire manufacturing