Everyone wants a higher debt ceiling
- US Treasury Secretary Geithner warned on the necessity of raising the debt ceiling. US President Obama warned on the necessity of raising the debt ceiling. US Fed Chairman Bernanke warned on the necessity of raising the debt ceiling. What are the chances the US Congress messes this up and does not raise the debt ceiling?
- Japan's impressively entitled minister for economic revival warned that he did not want the yen to weaken too far for fear of the damage that it would do to the domestic consumer (via import prices). The yen appears to have halted its weakening trajectory.
- German and UK inflation numbers are due. Bank of England governor King will testify to Parliament today - he may want to sound cautiously positive about the effects of the funding for lending scheme. The RICS was optimistic on UK house prices.
- US retail sales are see coming in soft in December, which may negate the reported optimism of the Chinese export numbers to the US (the Chinese data has been judged inconsistent with several other data sources). The Empire State survey should bounce higher.
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