- ECB meeting on Thursday - questions are expected to centre around additional liquidity measures and the ECB's asset purchases. Developments in Euroland bond markets and news out of southern Europe.
- US non-manufacturing ISM - will it hold up better than its manufacturing sibling?
- Monetary policy meeting at the Bank of England is not expected to bring any changes.
- Swedish industrial data and the government s net borrowing needs. Norwegian CPI.
- Global Update
Global PMI's have fallen - fundamentals suggest a slowdown, but the European debt crisis has likely accelerated the decline.
- The Riksbank hiked rates by 25bp, as expected, and the repo path was revised slightly higher in 2010 and 2011, but lower in 2012-13.
- The expiry of the one-year LTRO has brought the duration of Euroland money market liquidity lower, which has put upward pressure on short-term rates.
- The G-20 summit highlighted the change in policy focus from coordinated global growth support to a more diverse agenda. In Europe, focus is on public finances and in Asia attention has turned to inflation fighting.
