Today's Economic Events
A day which is a market holiday for many parts around the world, see the US reports its ISM and construction outlays… Also, since it is a day ending in "y", Goldman FX desk protege Brian Sack will be buying stuff: formally, $7-9 billion bonds due 2/15/2018 – 11/15/2020. Informally: 4.0x+ beta stocks.
10:00: ISM manufacturing index for Dec…steady and sturdy? With most regional surveys showing robust growth in manufacturing, we think the ISM manufacturing index will pick up a bit from last month’s already firm reading.
Median forecast (of 57) 57, ranging from 55 to 60, last 56.6.
10:00: Construction outlays for Nov…up, and if so by how much? Our model of construction outlays points to a good-sized increase, reflecting generally lower interest rates and some increases in housing-related indicators, albeit from very depressed levels.
Median forecast (of 40): +0.2%, ranging from -0.8% to +0.7%; last +0.5%.
Via Goldman's Ed McKelvey
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