- Macro: It was a positive session for equity markets to start the week yesterday, as the Eurostoxx600, the S&P500 and the Nasdaq each made gains. Later today, we have Eurozone CPI, which is expected to have increased to 2.4% in December, whilst the ECB is to publish its 1- and 3-year CPI expectations from November. Out of the US, we will have trade balance data for November, when the deficit is expected to expand. We will also have the ISM Services index for December and JOLTS jobs data for November. Finally, the UK Construction PMI is expected to show a modest decline for December but remain in expansionary territory.
- Stock: We have an update on PayPal’s strong average user growth for the month of December. (Comment attached)
- Debt: Core bond yields moved higher in the US yesterday on the back of strong Services and Composite PMI releases for December.
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