Friday The 14th

BOE bailout of Northern Rock (the chart had been pointing in that direction for months) and Greenspan didn't really get how subprime lending could hurt the economy. Jesus! "Easy Al" finally opens up, just in time for his book launch.

GS' Alpha Fund down 22% in August. Apparently, these rocket scientists were long AUDJPY for most of last month. Again, I don't care what "disruptions" occured - losing 22% in 20 trading days is pathetic and I bet the whole crew over there is ashamed. At least that's what I'm hearing.

Crude oil holding near $80, another good day in equities but volumes remain low. Everybody's waiting for the Fed on Tuesday. Only retailers throwing darts right now.

Remaining long USD vs. CAD and EUR along with steepeners throughout the curve.

US retail sales coming up today.

0000 NZ August PMI survey (54.6)

0430 Japan July industrial production (-0.4% m/m)

0430 Japan July industrial production (3.2% y/y)

0430 Japan July capacity utilization (105.8)

0600 Germany August consumer price index (-0.1% m/m)

0600 Germany August consumer price index (1.9% y/y)

0600 Germany August consumer price index, harmonized (2.0% y/y)

0800 Italy July industrial production (-0.1% y/y)

0900 Eurozone August consumer price index (-0.2% m/m)

0900 Eurozone August consumer price index (1.8% y/y)

1230 US Q2 current account balance (-US$ 192.6 billion)

1230 US August import price index (1.5% m/m)

1230 US August import price index (2.8% y/y)

1230 US August advance retail sales (0.3%)

1230 US August retail sales, ex-autos (0.4%)

1230 Canada Q2 labour productivity (0.7% q/q)

1230 Canada July manufacturing shipments (-1.8% m/m)

1315 US August industrial production (0.3%)

1315 US August capacity utilization (81.9%)

1400 US September University of Michigan consumer sentiment (83.4)

1400 US July business inventories (0.4%)

(Source: GCI Financial)