Flash PMIs Preview - Market Impact....>

EUROZONE DATA: Flash PMIs Preview - Market Impact

- The market is likely to be very sensitive to these numbers, even with some

risk having probably already been taken off the table ahead of the Easter break.

- We will have another set of PMIs before the next ECB meeting but there has

been increasing talk recently in the market about whether too much pessimism has

been priced in.

- Just look at how the UST market reacted to PPI and jobless claims last week

for evidence of how much markets can move even on data which doesn't normally

impact the market too much. Moves could be even larger if there are decent

surprises in today's European flash PMIs.