A very busy data day for both Asia and Europe - the usual end-of-month pile-up.
So I have to be selective today: I look at the surprisingly good news from the industrial sectors of Japan and S Korea, and consider its impact on their inventory overhangs.
I look at Hong Kong's budget deficit - blowing out alarmingly, and problem the territory could really do without right now.
In Europe, I look at the 'surprising' jump in CPI numbers; and note that the 12.1% qoq fall in 2Q GDP annualizes to a drop of 40.3%. Big hole, big hole.
