Despite it being a holiday shortened week, and volume already abysmal, there still are some robotic kneejerk reaction inducing economic datapoints, both today and Thursday. Here is what the consensus expects today, even as US economic data is once again irrelevant as Italy has taken front and center following the Zero Hedge report that ECB deposit facilities hit an all time record, leading to Italian BTPs widening to over 7% yet again, an a margin hike by LCH imminent.
9:00: S&P/Case-Shiller home price index (October): Further decline. Based on available house price data for October Goldman forecast that the Case-Shiller 20-city index declined by 0.4% month-over-month. In other news, idiots will call a housing bottom all over again.
GS -0.4%; Consensus: -0.2%; Last -0.6%.
10:00: Conference Board confidence index (December): Another gain. Recent strength in the University of Michigan’s sentiment index points to another gain in the index of consumer confidence this month. Goldman forecasts an increase from 56 to 59, a slightly larger increase than expected by the consensus.
GS: 59.0; Consensus: 58.1; Last: 56.0. MAP: 3