It is a busy data morning, but with the Fed close to ZIRP already, what difference does it make? Not a lot, to be honest, but if the data continues to deteriorate, Benny and the Quants will be forced to come up with new and novel approaches to deal with the slide.
CPI will be eyed for signs of deflation rather than inflation while industrial production will illustrate the health (or lack thereof) of the manufacturing sector.
TIC data will be watched for the willingness of foreign investors to fund the US current account gap. Judging by T-bill rates with a 0.0 in front of the rate, funding is not a problem just yet.
Checkout the calendar for further details.
