Good evening everyone.
Last night I spoke of the cloud of indicators which all point to a massive positive social mood extreme in force at the moment.
Today saw the release of another such indicator,
- the German ifo business confidence data.
The index has hit an all time high, registering 116.7.
The 2007 high reached 114.
We can put this one in the folder marked " Nobody saw this collapse coming! "
along with every other long run value orientated indicator I follow.
Lets get into the markets.
TOMORROWS RISK EVENTS:
USD: Unemployment Claims, Pending Home Sales m/m.
EUR: Spanish Unemployment Rate, M3 Money Supply y/y, Minimum Bid Rate, ECB Press Conference.