Recap 2-2-12

Main Items:

  • US Initial Jobless Claims declined to 367k last week vs 371k exp and 377k prev.
  • Unit Labor Costs increased to 1.2% in 4Q vs 0.8% exp and -2.5% prev
  • Mitsubishi UFJ Financial (Japan’s biggest bank) has drawn up a contingency plan that forecasts 2016 as the time when Japan’s current account may slide into deficit and trigger a gov’t bond sell-off.

Overseas:

  • EU PPI declined to 4.3% YoY in Dec as exp vs 5.3% prev

Commentary:

None

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