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Sentiment and sensibility

| Posted by: Paul Donovan | Tags: Paul Donovan

  • German business confidence data (ifo this time) makes its way out. The distinction between confidence in the domestic versus the international economies might be real, but it could also be a reflection of the nominal consequences of Euro strength.
  • German GDP is real, but of course although the data is "final" it is likely to be revised. Although no change is expected in this reading the numbers will "confirm" the economy grew over 2%, over trend at the end of last year.
  • The US offers consumer confidence data, not necessarily a high priority in normal times. However with the Fed continuing to mutter about watching for whether markets impact the real world this may be more meaningful.
  • Several Bank of England speakers testify before Parliament. Political point scoring over the EU referendum is likely to be the order of business. Also of note, SNB president Jordan is speaking in Frankfurt (many at the ECB look to the SNB as a role model on negative rates).