*Stocks were generally strong in Asian trade. Shanghai was among the best with a gain of 2.9%, the Nikkei added 0.8%, the Hang Seng was up two thirds of a percent and Austraila rose a quarter percent. European indexes are also firm on the session, with the Footsie higher by almost one percent and the Dax up about 0.4%. US stock futures are a quarter percent higher.*On Saturday China announced that its Consumer Price Index was +5.1% on a year over year basis in November; that was up from 4.4% in October and four tenths more than forecast, it was also the highest rate since July 2008. Additionally the November reading of their Producer Price Index rose to 6.1% versus a year ago, or one percent more than expected. Regardless the PBOC refrained from a rate hike in response to the price data, a move that had been anticipated by some.
*The November reading of Switzerland’s Producer and Import Prices was -0.2% on a monthly basis, short of the +0.1% that was expected. On a year over year basis this index was up only 0.1%, below the estimate for +0.3%.
*The November reading of the UK Producer Price Index is +0.9%, almost double the forecast.
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