The Banking and Strategy Initiative

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Euro GDPs keep track except Italy | Insight Europe

France was the most pleasant surprise from iStat in the morning scoring 1.4% year on year ( and I would not worry with QOQ figures for any of today’s data) and the Germand GDP though weak, an ok 1.8% at December 2011.

The overall EU data has just come in at 0.7% for the calendar year though Italy was a shock with contraction of more than 0.5%, most of it in the last quarter. the merchandise trade surplus for the EU has increased marginally to EUR 7.5 bln from 6 bln even as British unemployment(ILO) came in at 8.4, ILO earnings data up a respectable 2%. All in all most yearly data came in better than was hoped for, but with no housing data till the late afternoon hints to tomorrow ‘s Housing starts , Financial markets continue to look outward at the year’s Frontier Markets from Africa and the consumer markets of Thaland and Indonesia. India and China have a pretty , stay under the curve wait and watch even as the commodities have bottomed out, Indonesia is looking good for palm oil (Mobius) and mining and Oil are looking good fro Myanmar, Thailand and Indonesia.

Singapore loos ready to keep strengthening the currency catching up to 1.24 to the Dollar to rein inflation as it looks to better trade and thus port handling revenues with Shanghai having also caught up and revenues to the Pac Cosast showing a dip in LA and Long Beach

India is close to having cleared the Telecom Auctions slate for a fresh start even as $ 4bln in FDI portfolio cash already looks like too much for the markets and China looking to catch up on growth , not gettin g much except last years reports from luxury sales as for Hongkong as well, befuddled by Census problems.

Back in Europe, the banks need to deleverage, markets need extra liquidity and the Basel II cap of 3% Equityor 33 X Leverage still looking a bit high and to be implemented only by 2018. Other industries thus hadve virtually disappeared even as European stocks come back in 2012 on the strength of global markets., China advised to add itas dollars to the Euro basket only through the IMF..the hope, retail consumption, tired of a long winded crisis.

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