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What to watch

OUTLOOK
  • After last week's slew of major central bank meetings, there is still a decent amount of data for markets to focus on this week, starting with this morning's German IFO print. Each of the business climate, current assessment and expectations components is expected to increase relative to last month's print.
  • Later this week the data highlights include UK final and the US third GDP prints on Thursday and on Friday US PCE and the preliminary print of durable goods.
  • This week we will also receive funding plans from Italy (likely today, tomorrow or potentially Wednesday), the EU (there is an investor call scheduled tomorrow) and Greece (who published on 23 December last year) and Finland (who published on 22 December last year). This morning we received the 2023 plans for the EFSF / ESM.
  • There will also be continued focus on energy markets - although there are signs of warming weather in parts of Europe at least.

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