Greece Retail Sales (YoY) up to -8.5% in Dec from -16.7% in Nov

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “We still think the present developed world economy is incredibly fragile (virtually everywhere) that is still unable to stand on its own two feet without previously unimaginable intervention (monetary and fiscal). With this in mind we still think the road is full of large problems and heavy intervention for years to come. There will be waves of liquidity fuelled euphoria but also periods of fear and large risk-off. You can't really afford to miss the liquidity rallies, however we think one has to acknowledge that there's a long way to go before the developed world has a self-financing and sustainable economic system and financial markets.”