- ECB Cash Averts ‘Funding Crisis’ for Italy, Spain (Bloomberg [15])
- Bailout talks in Greece ‘crucial’, Premier says (WSJ [16])
- Spain sees €50bn of new bank provisions (FT [17])
- Fed says expand Fannie, Freddie role to aid housing (Reuters [18])
- France’s Borrowing Costs Rise at Bond Sale (Bloomberg [19])
- Europe worries linger after French auction (Reuters [20])
- PBOC Suspends Bill Sale as Money Rates Rise Before Holiday (Bloomberg [21])
- Turkey warns against Shi'ite-Sunni Cold War (Reuters [22])
- New capital rules for banks ‘delayed to 2H’(China Daily [23])
- China says local governments clear up some debt irregularities (Bloomberg [24])
- Rivals set to pounce on Santorum's past (Reuters [25])
European Economic Highlights
- Eurozone Industrial New Orders n.s.a. 1.6% y/y – lower than expected. Consensus 3.3% y/y. Previous 1.6% y/y.
- Eurozone Industrial New Orders s.a. 1.8% m/m – lower than expected. Consensus 2.5% m/m. Previous -6.2% m/m.
- Eurozone PPI 0.2% m/m 5.3% y/y – higher than expected. Consensus 0.1% m/m 5.2% y/y. Previous 0.1% 5.5% y/y.
- Germany Retail Sales for November -0.9% m/m 0.8% y/y – lower than expected. Consensus 0.2% m/m 0.7% y/y. Previous -0.2% m/m -0.4% y/y.
- France Consumer Confidence Indicator for December 80 – in line with expectations. Consensus 80. Previous 79.
- Italy Unemployment Rate s.a. for Q3 8.1% - in line with expectations. Consensus 8.1%. Previous 8.0%.
- Italy Unemployment Rate s.a. for November 8.6% - higher than expected. Consensus 8.5%. Previous 8.0%.
- UK PMI Services for December 54.0 - higher than expected. Consensus 51.5. Previous 52.1.
- UK Official Reserves (Changes) for December -$1943M. Previous -$249M.