Portugal 4Q Gross Domestic Product (YoY): -3.8%; -1.8% (MoM)
Mar 11, 2013
Fundamental Morning Wrap: A Continental Breakfast and some Chinese Take Out
Following the drop in volume due to the bevy of fundamental flashpoints last week, institutional research has returned with a bang this morning, and a range of focal points. GBP is out, seemingly with little new colour until the pending budget and inflation note. Meanwhile, the market continues to digest Draghi´s performance on Thursday while the Italian downgrade on Friday night adds a new dimension to an already multifaceted paradigm. A similar amount of focus has been put on the US NFPs on Friday, following their surprising upside bounce and in Japan, the process of BoJ nominations is starting to gather momentum. However, the surprise of the day so far has been the attention placed on Chinese developments. We all know China is a rising power, and while the flurry of attention will likely not become a regular fixture just yet. It is noteworthy as a long term trend.