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Peace and quiet

| Posted by: Paul Donovan | Tags: Paul Donovan

  • The data calendar is a desolate wasteland of emptiness today - nothing much is happening. If this carries on economists will be forced to look to markets for inspiration (reversing the natural order of things).
  • Japanese store sales data may be worth a cursory glance. The whole point of the March pay round was to increase expectations about real incomes, and then lead to those incomes being spent. It is a bit too soon to tell the effects of that, however.
  • The Euro area has German ZEW business confidence - expected to improve, but not normally a major focus for investors.
  • The US has weekly store sales - impacted by the timing of Easter. Fed President Dudley continued to sound confident of raising rate ("Lift off" seems to be the phrase the media are choosing to use to trivialise the issue), on a growth rebound.