Week of December 30, 2012 thru January 5, 2013

Brazil: Economic Data Calendar


All release dates are subject to change without notice

Data Date GMT / ET Thru Release Prior Release

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02-Jan 1300 / 800 Nov-12 Trade balance -$186 mln 03-Jan 1100 / 600 Nov-12 IBGE PPI m/m +0.21% 03-Jan 1100 / 600 Nov-12 IBGE PPI y/y +6.37% 04-Jan 700 / 200 Dec-12 Fipe IPC Sao Paulo inflation +0.68% 04-Jan 1000 / 500 Dec-12 Cen Bank/FGV Retail Confidence y/y +1.4% 04-Jan 1100 / 600 Nov-12 IBGE industrial productio

S&P: Fiscal Cliff Talks Unlikely to Impact US Rating


-Any Deal Likely to be in Line With Assumptions, Extend Tax Cuts

WASHINGTON (MNI) - Standard & Poor's issued a bulletin Friday, just as President Barack Obama was meeting with senior congressional leaders to resolve the fiscal cliff stalemate, saying the talks were unlikely to impact the U.S. debt rating, since any deal likely would be in line with previous assumptions and extend existing tax cuts and failing to address the broader deficit issue.

The complete statement follows:

TORONTO Dec. 28, 2012 - Standard & Poor's Ratings Services does not expect negotiations over the fiscal cliff to have an impact on its 'AA+/A-1+' ratings on the U.S. federal government. On Aug. 5, 2011, Standard & Poor's lowered its rating on the U.S.

US Sen. Baucus: White House Meeting 'Important' In Cliff Saga


-Sen. Baucus Hints Sen. Reid or White House to Present New Offer

WASHINGTON (MNI) - Senate Finance Committee Chair Max Baucus said Friday the meeting at the White House on the fiscal cliff will be an "important" moment in the fiscal cliff saga.

In comments to reporters after a Senate Democratic policy luncheon, Baucus said he sees some indications of movement toward a scaled-back package that would include extension of some Bush-era tax cuts and other items.

"Things are starting to gel," he said.

US Debt Offering, Auction Calendar for Tsy and Agency Issues


December 28

Source: U.S. Treasury, Fannie Mae, Freddie Mac Amounts in billions of U.S.

Two US Senators: Tax Deal To Come This Weekend Or Early 2013


-GOP Sen. Alexander, Corker Seek To Link Debt Hike, Entitlements -Sen.

Next Week/US: Payrolls, ISM-Mfg, FOMC Minutes


WASHINGTON (MNI) - Next week's data will feature the usual batch of releases for the first week of the month, though condensed into a shortened holiday week: nonfarm payrolls, the Institute for Supply Management purchasing managers index, as well as minutes for the last meeting of the Federal Open Market Committee.

December nonfarm payrolls are expected to show roughly the same rate of improvement as the last few months, posting roughly 150,000 added jobs, though the unemployment rate is expected to remain unchanged.

Initial jobless claims, meanwhile, showed a strong reading of 350,000 in the last report, a range that indicates strong job growth.

US Pending Home Sales Rise To Highest Level In Over Two Years


WASHINGTON (MNI) - Contracts signed to purchase an already existing home but not yet closed increased in November and are now at their highest levels in over two years the National Association of Realtors reported Friday.

The NAR pending home sales index which measures contract signings rose 1.7% to 106.4 in November and now stands 9.4% above last November's level of 96.9. October was revised down slightly from 104.8 to 104.6.

The index is usually considered a good predictor of future existing home sales and appears to have stabilized in relationship to existing home sales figures after showing some decloupling as a result of issues associated with the appraisal process and contract cancellations.

US Credit Mkts WkAhead: Holiday-Shortened Wk Ends in Payrolls


CHICAGO (MNI) - In the coming week, the turn-of-year is expected to slow trading, then to clear the way for more massive trades in 2013 as the fiscal cliff's implications become clearer. Whether the Treasuries market improves or deteriorates immediately ahead will depend on the resolution for the cliff.

Amid worries about financing for the turn, market sources look for continued customer buying into year-end. Mideast accounts were said to be selling peripheral debt positions and funneling money into Treasuries, with the gradual shifting expected to continue in 2013.

US Nov Bldg Permits Revised Up To +3.7% To 900K Unit Rate


--November Permits Originally Reported +3.6% To 899K Unit Rate

WASHINGTON (MNI) - The number of U.S. building permits issued in November was revised up to an increase of up 3.7% to a 900,000 unit annual rate, the Commerce Department's Bureau of the Census said Friday.

Permits issued were originally reported up 3.6% to a 899,000 unit rate.