Here is the update of the day, with the important economic events:
- Merkel Says Germany Backs Draghi’s ECB Aid Conditionality.
- Now, the reverse psychology: Hilsenrath: Fed ‘Hawks’ Weigh In Against More Action.
- London Firings Seen Surging As Finance Firms Add NY Jobs .
- Facebook Second-Worst IPO Performer After Share Lock-Up.
- Kocherlakota Says FOMC Goes Too Far With 2014 Rate Pledge.
- China Said to Order Action by Banks as Developer Loans Sour.
- Brevan Howard Loses Third Founder As Rokos Said To Leave.
- Japan eyes end to decades long deflation.
- Ex-Morgan Stanley Executive Gets Nine Months in China Case.
The European Economic Update of the day looks in the following way:
- Germany Producer Prices 0.0% m/m 0.9% y/y – lower than expected. Consensus 0.3% m/m 1.2% y/y.
- Switzerland PES Unemployment Rate 4.6% – higher than expected. Consensus 4.5%.
- Euro Area Current Account (sa) 15.7B. Previous -3.2B.
- Euro Area Trade Balance (sa) 5.0B – lower than expected. Consensus 10.5B.
Sources: Bloomberg, FT, Reuters, WSJ