Key data events from overnight - Nomura

Analysts at Nomura offered details of the key US data from overnight.

Key Quotes:

"Review Consumer credit: Consumer credit rose by $18.4bn (+5.8% at an annual rate) to $3.841trn in December following a strong $31.0bn gain in November (revised up from a previously reported $28.0bn increase). Consumer credit expansion picked up in Q4 to an annualized pace of 7.7%, from a 3.6% gain in Q3. Revolving credit rose a steady $5.1bn following a sharp increase in November. Non-revolving debt increased by $13.3bn after a $20.0bn advance. The continued robust expansion of outstanding consumer credit appears consistent with strong consumer fundamentals such as strong labor market conditions and healthy personal financial gains. 

Preview Initial jobless claims: Initial claims remained low in the most recent reading, decreasing marginally to 230k for the week ending 27 January. Continuing claims ticked up slightly but remained subdued, consistent with our view that the labor market will strengthen further this year."