•
Greece dominates the news again
– Greece
requested an extension of its rescue package; Germany rejected it
– Finance
ministers’ deputies met yesterday, apparently are near an agreement
– Finance
ministers meet today at 1400 GMT; this is the big one!
– It’s not
clear what will happen if they don’t reach agreement today.
•
US indicators are conclusive
– Leading
index rose, but not as much as usual; jobless claims are very volatile,
indicating problems with seasonal adjustment; Phili Fed index shows modest
growth
– Fed funds
futures creep higher, reversing some of Wednesday’s move, as investors look to
next week’s testimony by Yellen
•
Japan’s manufacturing PMI falls to lowest since
last July
– Some return
to talk of weak yen is likely after elections in April are finished
•
Today:
– Eurozone: PMI day –
manufacturing & service sector PMIs for several European countries and
Eurozone as a whole are expected to rise, which could boost EUR
– UK:
Retail sales for Jan expected to fall
– US: preliminary
Markit manufacturing PMI
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