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Quiet

| Posted by: Paul Donovan | Tags: Paul Donovan

  • The United States returns from its President's Day golf weekend to find very little on the agenda to arouse investor interest. The minutes of the last Federal Reserve meeting are due tomorrow, which is at least something to look forward to.
  • The drama of the European Central Bank played out largely as expected. The governor of Latvia's central bank is on bail, pending an investigation on bribery (being on bail, the governor will still be able to attend the ECB's meetings).
  • The European finance ministers agreed that Spain's economy minister should be the next ECB vice president – the final decision lies with the heads of government. As with most European appointments, the emphasis in the decision-making process was on nationalism more than merit.
  • The German ZEW economic sentiment survey is due. This is a survey of economists, which adds quality, but honestly you have to be fairly weird to voluntarily complete  a survey nowadays. The UK's long goodbye from the EU continues, with the government promising to keep regulations and threatening to keep back cash. Markets cannot be bothered to pay attention.