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M3
A few big economic releases today and they can certainly solidify the change in momentum or possibly cause a road bump for the u-turn in equities.
1) Euro zone M3. Not exactly a hot topic in the lunch area but it has been sliding hard this year. Remember last year when Trichet and crew were hesitant to ease policy too far as this figure was still rising so somewhat lagging in nature but still any change in momentum will suggest the economy has improved. Another poor month will suggest that equities may continue to tumble some more.
2) US Consumer Confidence. Chart is now shown post the latest result. The important figure is the Expectations component. Are things improving out there? What do people think? Obviously a move down in Expectations will bode poorly for risk-taking (on the long side).
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