- There are UK house prices due from the Land Registry (so the comprehensive index). At a little over 5% they do not lend themselves to sensationalist headlines (given nominal GDP is around the same growth rate), but perhaps argue for a cessation of housing stimulus measures.
- US income and consumption data is scheduled - income is likely to be worth tracking in the coming months as the labour market tightens. Michigan consumer and Chicago business sentiment measures are also due.
- German retail sales data is scheduled in the Euro area - the tick up in unemployment was something of a surprise, but it seems unlikely that there is a serious risk to the German consumer at this stage.
- Japan's industrial production was weaker than expected, and consumer spending predictably collapsed (consumption tax related). The April consumer inflation data was higher than expected, but the May Tokyo data was weaker - fitting with evidence of weakness in corporate prices.
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