Frontrunning: December 2
- Merkel Says Joint Euro Bonds Unthinkable as EU Faces Marathon (Bloomberg)
- Draghi hints at eurozone aid plan (FT)
- Europe prepares oil imports embargo on Iran (FT)
- RIMM cuits guidance.... again (Marketwire)
- Sarkozy Says Euro Zone Risks a Breakup Without Further Fiscal Convergence (Bloomberg)
- King warns of ‘spiral’ into systemic crisis (FT)
- JPMorgan Follows UBS Cutting Carbon Jobs (Bloomberg)
- Merkel fights for euro she says is stronger than D-mark (Reuters)
- Hilsenrath: Fed Officials Don’t See Central Bank Cutting Discount Rate (WSJ)
- Agreements Lift Threat of Immediate US Rail Strike (CNBC)
- Mukherjee: No Room for Fiscal Stimulus (WSJ)
European Economic Highlights
- Hungary Trade balance 6.47T. Previous 6.50T.
- Spain Unemployment (net, 000’s) 59.5 m/m. Previous 134.2 m/m.
- Switzerland Retail Sales -0.2% y/y – lower than expected. Consensus 0.0% y/y. Previous -1.4% y/y.
- Norway Unemployment Rate 2.4%. Consensus 2.4%. Previous 2.4%.
- UK PMI Construction 52.3 – higher than expected. Consensus 52.0. Previous 53.9.
- EuroZone PPI 0.1% m/m 5.5% y/y – lower than expected.. Consensus 0.2% m/m 5.6% y/y. Previous 0.3% m/m 5.8% y/y.