–Adds detail to version transmitted 0930GMT –Q4 2nd Estimate GDP -0.2% q/q; +0.7% y/y LONDON (MNI) – Household spending rose for the first time in over a year in the fourth quarter and net exports boosted growth, but these were offset by a large fall in investment spending, figures from National Statistics showed Friday. The [...]

At 1.2050 apparently. We’re at 1.2058 at writing. That’s more like it

35% of Euro 16bln Greek bank deposits withdrawn have gone to the UK, 9% went to Switzerland Wants to create a deposit repatriation movement Return to growth in Greece needs stability and requires a working banking system Where did the other 56 % go then?

We’re at 1.3288 from session high 1.3402, amid talk of real money selling. Also talk of real money parked up at 1.3410/20 with sell interest. Next technical hurdle for euro bulls the well-touted 1.3435 (50% retrenchment 1.4248/1.2624). You’d have to expect decent sell interest ahead of said level, stops not far north

–Q4 2nd Estimate GDP -0.2% q/q; +0.7% y/y –Q4 GDP broadly in line with median forecast of -0.2% q/q; +0.8% y/y LONDON (MNI) – Household spending rose for the first time in over a year in the fourth quarter and net exports boosted growth, but these were offset by a large fall in investment spending, [...]

UK DATA: Q4 2nd Estimate GDP -0.2% q/q; +0.7% y/y –Q4 GDP broadly in line with median forecast of -0.2% q/q; +0.8% y/y ———————————————————————— GDP was unrevised and broadly in line with expected. The y/y rate was revised down a touch due to a down revision to Q3 from 0.6% to 0.5% q/q. This, though, [...]

Interesting scuttlebutt. USD/CHF at .9003 from session low .8987. I’m surprised I have to say.  I’d have been expecting them in EUR/CHF.   Oh well, the talk’s out there. Make of it what you will.    

Expectations were for -0.2% and +0.8% Q4 Ind output -1.4% q/q, Mfg output -0.8% q/q Cable drops back a touch on the slightly worse y/y number, but remains firm just a head of 1.5800

I’d guess that’s at 0.9000 as we just dropped to a low of  around 0.8991

I’d say at least ten foot tall, two foot thick   Bit of steel reinforcing for good measure……

Pension funds will be affected by the Greek debt swap Pension fund assets will be replaced with state assets Economic plan aims to save future pensions

Italy and Ireland agree EU needs growth measures   Bloomberg headlines from a Rome press conference

ITALY DATA: Retail sales fell 1.1% m/m in December in SA nominal terms, and dropped an unadjusted 3.7% y/y, down from -1.8% y/y in November and the worst y/y fall since March 2009 (-4.2%). –Food sales fell 1.0 m/m; non-food sales fell 1.2% m/m. –Italy 2011 full-year average unadj. retail sales -1.3% (+0.2% in 2009) [...]

EUR/USD 1.3401 on EBS. And Joe is da man!!!! Thanks to all those who blew sooo hard It can do what it damn well wants now AND OFCOURSE CONGRATULATIONS TO ALL THE OTHER READERS WHO PLUMPED FOR 1.3400.  WELL DONE!!!

Ughhh, much weaker than median forecast of -0.2%. Month on month drop steepest since July 2004. Year on year drop steepest since March 2009.

1.3392 bid, only another 8 pips to go!!! Will he go home a happy bunny, or will it just be another case of so near but yet so far? Time as they say will tell. We want a happy Joe, so c’mon blooooooooow!!! UPDATE: He’s had a hard life, he needs all the adulation he can [...]

Italy re-opens 2 year zero coupon January 2014 CTZ  issue (indicative size 2-3 bln), taps 2.10% September 2016 BTPei and 2.35% September 2019 BTPei for 1-1.5 bln. I guess they should go well given the general optimism which abounds these days Results due around 10:15 GMT

FRANCE DATA: February consumer morale 82; January 81 (unrevised) –Matches expectations; MNI analysts survey median forecast 82 –Buying-propensity up 5 points –Future inflation worries down 2 points –Jobless fears down 1 point

Up from 81 in January and as expected.