Yesterday the producver price index (PPI, left) was released. It was down 0.4%, however, the retail sales report was also released showing a 1.2% decline. The market reacted swiftly and dramtically. Tomorrow, more important data will be released: Housing start numbers at 8:30 am ET, and later, consumer sentiment. Both numbers have the potential to move the market significantly. Other important economic news from around the world is presented below:
Depositor run on Russian Bank: Financial Times
UK Investors want dividends from rescued banks: Telegraph
Head of San Francisco Fed says US in recession: Telegraph
The end of the hedge fund era? New York Times
Pension Benefit Guaranty Corp. loses $2.1 billion: New York Times
Mastercard doubles fees to shopkeepers: Telegraph
Canadian dollar at $0.79, a four-year low: Globe and Mail
Bank of Canada: "the edge of recession:" Globe and Mail
Mexico: "derivatives selling unethical:" Financial Times
Sweden Central Bank cuts rates: Financial Times
Hungary raises rates 3%: Telegraph
Union Pacific (UNP) income up 32%: Wall Street Journal
UK keeps ban on shorting financials: Wall Street Journal
Yen rises as hedge funds liquidate holdings: Financial Times
England in recession: Guardian
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