WOW!..WHAT A DAY!...HERE'S OVERNIGHT DATA AND EVENTS:(market expectations, last observation)
> US Federal Reserve Bank of Philadelphia President Charles Plosser on increasing interest rates: If we fail to do so, we run the risk of keeping real interest rates too low for too long and injecting liquidity into a growing economy at a pace that will create inflation above desirable levels later in the business cycle... Inflation is a monetary phenomenon, and the stance of monetary policy has been very accommodative during the last 18 months.
> BOE Monetary Policy Committee Member Andrew Sentence to Guardian Newspaper: may adopt wait and see approach as it comes to the stage at which it will have to pause bond purchases and monitor the impact.
> US Treasury Federal Budget Deficit Summary (Dec) rose to -$91.9B (-$92.0B, -$51.8B) in December as higher unemployment reduced revenue and the government spent money to help the economy recover. The December figure caps a calendar year in which the deficit widened to an all-time high.
> US Fed Beige Book said the US economy improved in 10 of the Federal Reserves 12 districts in December, marking a broadening of what is still a modest recovery. The Philadelphia and Richmond Fed districts reported mixed conditions.
> US MBA Mortgage Market Index (w/e 8 Jan) rose 14.3% (0.5%) last week to 528.1 led by a rebound in refinancing activity. The groups refinancing index jumped 22%, while the purchase index advanced 0.8%.
> UK Manufacturing Production m/m (Nov) unexpectedly stalled for the second month0.0% (0.2%, 0.0%) in Novembersuggesting that the sector is struggling to recover.
> UK Manufacturing Production y/y (Nov): -5.4% (-5.1%, -7.8%)
> UK Industrial Production m/m (Nov): 0.4% (0.3%, 0.0%)
> UK Industrial Production y/y (Nov): -6.0% (-6.1%, -8.4%)
> UK NIESR GDP Estimate q/q (Dec): 0.3% (0.2%)
HOPE EVERYONE DID WELL TODAY!
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