Recap 1-29-13

Commentary:

None

Notable:

  • US Consumer Confidence declined to 58.6 in Jan vs 64 exp and 65.1 prev
  • Australia NAB Business Confidence improved to 3 from -9 prev
  • CNBC reported that Spain is preparing a stimulus plan to relieve some of the pain from recent austerity measures.
  • The government in Japan approved a new $1.02T budget that would raise more in tax revs than bond sales for the first time in 4 years. That said, Japan would still rely on borrowing to cover ~46.3% of its spending needs.

Upcoming Data:

  • Wed: EU Consumer Confidence, US ADP Employment, FOMC
  • Thu: German Unemployment, US Personal Income, Jobless Claims, Chicago PMI
  • Fri: Europe PMI, ItalyUnemployment, US Employment, UMichigan Confidence, ISM
  • Mon: China HSBC Services PMI, RBA
  • Tue: European Services PMI, US ISM Non-Manufacturing
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