Composite Confidence News Today

- Quiet weekend of news with little change to macro narrative since Friday.

- German Ifo business sentiment data which were in line with analyst expectations.

EU mid-market update: IFO survey reinforced under-performing German economy; Modest amount of ECB speakers supporting to hold rates steady; Focus on p

The new Reign is ready to race right out of the box.

-Mixed European flash PMI data for France, Germany, Euro Zone and UK, but indicated any recession in Europe would likely be limited or even avoided. N

- Risk appetite trying to end the year on a positive note. - China planning to drop quarantine requirements for inbound travelers. Asia - China to rem

- German IFO Survey registers its 4th straight lower reading as supply chain issues intensify. - BOJ and ECB meet this week. Dealers noted that market

- (EU) Daily ECB Liquidity Stats. - 05:30 (DE) Germany to sell €4.0B in 12-month Bubills. - 05:30 (ZA) South Africa announces details of upcoming I/L bond sale (held on Fridays). - 06:00 (IL) Israel Mar Unemployment Rate: No est v 5.1% prior; Unemployment Rate 9including Covid): No est v 16.7% prior. - 06:00 (IL) Israel Feb Manufacturing Production M/M: No est v -0.5% prior. - 06:00 (IL) Israel to sell bonds. - 06:00 (RO) Romania to sell RON500M in 4.15% 2028 Bonds. - 06:45 (US) Daily Libor F...

1/25/2021 10:42:53 AM GMT Notes/Observations - German Jan IFO Survey misses across the board as 2nd wave of pandemic derails optimism - Italian politics remain in focus; PM Conte could decide to resign in a tactical move to position himself to lead a new government if he’s set to fall short on a key vote mid-week - US Congress negotiates over the fiscal stimulus amid the worsening pandemic; Some Republicans seek justification for the $1.9Ton price tag - FOMC rate decision mid-week (1st meetin...