Question of the day:  Has anyone here drunk Bruadar liqueur whisky and was it really nice? I was talking to one of my gardeners yesterday and she was extolling it’s virtues..

Pretty much in line with Reuters’ median forecasts of +0.2%, +5.5% respectively.

LONDON (MNI) – The construction sector saw activity decelerate in November, while Q3 new orders surged in the third quarter, largely recovering the ground lost in Q2, data issued Friday showed. The CIPS/Markit November Construction PMI showed activity still expanding, but at a slower rate than in October. National Statistics data out at the same [...]

versus 53.9 in October, but fractionlly better than Reuters’ median forecast of 52.0 Sorry bit late with the news there.  I have to admit I was totally engrossed in listening to an Antony and The Johnsons track. Quite forgot where I was and what I was supposed to be doing. Cable sits at 1.5680.  It [...]

Apparently through 1.3500 and 1.3530, that’s where. We’ve been to 1.3492 so far, presently at 1.3480.  Those stops look a million miles away at this rate.  I’ve had some lovely hot-buttered toast and you’ll all be pleased to hear I’m feeling alot better. Not that most of you probably give a shit

BERLIN (MNI) – German Chancellor Angela Merkel said on Friday that she will lobby at the upcoming EU summit for making the Eurozone a stability union by shifting more national budget sovereignty to the European level, something which requires a change of the EU treaties. “The goal is a fiscal union,” Merkel said in a [...]

Italian/German 10 year bond spread has narrowed to 430 bps from the 452 I jotted down at start of play. Spanish/german 10 year bond spread has narrowed to 346 bps from the 360 I jotted down at start of play. I it weren’t for the bloody sovereign sales this morning (BIS/ACB) we could be a little [...]

Producer Prices – October - %mom %yoy Median Forecast 0.2 2.1 High forecast 0.4 3.3 Low forecast -0.1 0.0 Previous period 0.3 5.8 - Number of responses 8 4 - 4Cast 0.2 n/a Barclays Cap. 0.2 0.0 BNP Paribas 0.2 2.0 Citi 0.2 n/a Commerzbank 0.0 3.3 Credit Agricole 0.3 n/a Natixis 0.4 2.2 Standard [...]

Does he think anyone’s listening to him? Well I guess I am ECB interventions on bond markets have positive impact on liquidity of Greek banking system

In recent trade.  The euro bulls still haven’t been able to penetrate the 1.3488 overnight high, despite good gains by European stocks. We’re presently at 1.3475 in quite frankly bloody boring trade. But I kinda like it like that Especially as I’m on my lonesome today, my mate Joe having buggered off to some wedding in [...]

EU must aim for fiscal unity to resolve debt crisis Wants German leaders to overcome public resistance to ECB action, EU fiscal solidarity ECB bond buying at time of crisis is not moral hazard G7 is not opposed to currency intervention Japan must stick to mid-term fiscal target to restore public finances

–Adds Comments On Eurobonds To Story Sent At 07:31 GMT BERLIN (MNI) – German Chancellor Angela Merkel in her government declaration this morning will reaffirm her call for making the Eurozone a stability union by shifting more national budget sovereignty to the European level, a senior lawmaker from Merkel’s CDU/CSU-FDP coalition said Friday. “Stability policy [...]

Crisis can’t be resolved over night, no fast solution Crisis is worst since euro was introduced European citizens’ sacrifices major contribution to euro stability Development toward fiscal union is on agenda We have govt debt and confidence crisis Task of ECB is different from Fed or BoE Need to preserve independence of courts and ECB [...]

Stoxx Europe banking index up healthy +1.7% FTSE up +1.3%, DAX up +1.5%, CAC 40 up +1.4%. Periphery markets doing OK too, Italy’s FTSE MIB up +1.2%, Spain’s IBEX up +1.1%

PARIS (MNI) – After a difficult first half, 2012 could bring a rebound in French economic activity, provided confidence is restored rapidly, Finance Minister Francois Baroin said Friday. “The slowdown is here,” the minister said in a radio interview. “The first half will certainly be difficult.” Yet if the mode of governance in the Eurozone [...]

Corrects previous figure in lead to 5.1% from incorrect 5.0% TOKYO (MNI) – Japan’s Q3 GDP growth will be revised down to an annualized 5.1% (correcting from 5.0%) rise from an initial 6.0% rise, reflecting an expected downward revision to capital investment, according to the median forecast of economists surveyed by Market News International. The [...]

I guess that’s around 1.3470. Given I heard they were buying around 1.3450 yesterday, I make that a 20 pips profit. Way to go!!!!!! Can I go home now?

BERLIN (MNI) – German Chancellor Angela Merkel in her government declaration this morning will reaffirm her call for making the Eurozone a stability union by shifting more national budget sovereignty to the European level, a senior lawmaker from Merkel’s CDU/CSU-FDP coalition said Friday. “Stability policy coupled with deficit reduction is the only way out of [...]

Sounds eminently sensible to me Sees 2011 growth at 1.7% from previous 2% Sees 2012 growth at 0.4% from previous 0.8% Dow Jones reporting. EUR/CHF trades at session high 1.2345.

EU summit ‘must be a success’ Short-term solutions won’t work Crisis solution lies in long-term ‘More Europe’ is solution to crisis