It's Going To Be An Enormous Week For The US Economy

The first week of every month is always a busy one for economic data. You have Global PMI day (which is at the start of every month) and you get key data like construction spending, non-farm payrolls, and auto sales. This month is no exception, and in fact it should be even more intense than normal because there will be so much interest in the fiscal cliff negotiations (even if markets are not quite sure that they matter much yet). For the globe as a whole, things really start Sunday night, when we get our first PMI readings from Asia. You can find the full schedule here, but the basic gist is that South Korean PMI (the infamous canary in the coalmine) comes out at 7:01 PM ET Sunday night, while China comes out at 8:45 PM. Other countries will report throughout the night and then we get the European numbers around 3 AM Monday morning, giving us a key look at how ...