Eurozone November current account report 19 Jan
– prev revised down from +28.4bln
– c/a NSA EUR +40.5bln vs +32.6bln prev revised down from +32.8bln
– 12-mnth C-A/GDP ratio 3.4% vs 3.1% a year ago
More importantly investments in EZ down sharply in November and portfolio outflow rising and that’s born out by EUR declines.