- U.S. pending home sales rose 6.3% in December, stronger than expected. (Is the housing sector beginning to show signs of turning the corner ?)
- (Bloomberg) -- A record 19 million U.S. houses stood empty at the end of 2008 as banks seized homes faster than they could sell them and prices continued to fall.
- Australia reduced its interest rate from 4.25% to 3.25%,
- Industrial producer prices in the Euro area fell 1.3% MoM.
- (Spiegel)... the US Senate is debating a 'Buy American' provision in its economic stimulus package. The European Union fears the US is trying to seal off its market -- and is using its diplomatic arsenal in a bid to stop the move.
- Temperatures are expected to fall below freezing tomorrow morning in parts of northern and central Florida.
- Merck and Schering Plough, as well as the homebuilder D.R. Horton posted better-than-expected earnings.
- India announced approval for duty free imports of raw sugar.
- Ford sales dropped 39% in January, Toyota sales fell 31.7%, Volkswagen sales declined 11.6%, and Mercedes reported a 35.5% drop.
- (Bloomberg) -- China’s central bank may become less aggressive in cutting interest rates as lending surges and the world’s third-biggest economy shows signs of bottoming out, Deutsche Bank AG said.
- Indonesia cut interest rates to 8.25% from 8.75%
- Global corporate debt issuance recovered to levels more in keeping with boom times in January with buyers found for around 246bn of company bonds.
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