"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

The Required Disclosures

The information presented in this blog and its individual articles is provided for informational use only and should not be considered investment advice or an offer for a particular security. The contents reflect the views and opinions of the individual writer as of the date the article was written and do not necessarily represent the views of the individual writer on the current date. They also do not in any way, shape, or form represent the views of the Firm Never-To-Be-Named. Any such views are subject to change at any time based upon market or other conditions and The Great Redoubt and its individual writers disclaim any responsibility to update such views. These views should not be relied on as investment advice, and because investment decisions for any security are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any contributor to The Great Redoubt. Neither The Great Redoubt nor any individual author can be held responsible for any direct or incidental loss incurred by applying any of the information offered. Please consult your tax or financial advisor for additional information concerning your specific situation.

Wednesday, January 12, 2011

"Over There, Over There, Say A Prayer, Say A Prayer For Over There"

"For Metrics are coming,
"Metrics are coming,
"And they've been announced Over There."
Let's start with Italy, shall we?  Industrial Production figures were released about 7 AM EST for that first among PIIGS nations, and results are actually not terrible.  They recorded a 1.1% increase in production for November (up 120 bps from October, and beating expectations by 0.5%).  Now if they can just get the trains running on time[1].
Moving on, Great Britain reported their merchandise trade figures around 4:30 AM EST, showing a trade deficit of £8.74 billion in November (expanding by £150 million from October and missing expectations by £340 million).
Finally, the European Union reported Industrial Production figures for the EU as a whole. November wrapped up with a 1.2% increase, unchanged from October but beating expectations by 70 bps.
[1] *rimshot*

No comments:

Post a Comment