Plenty of macro data out today, watch out for higher than expected ISM Manu.

• Plenty of macro data today with ISM Manufacturing being the most important one. We expect an above consensus 58.5 following the strong performance in the Chicago PMI on Friday. Eurozone unemployment is also out today at 10:00 (GMT) and we expect an unchanged rate of 10.0% vs. consensus of 10.1%.
• US GDP was revised up on Friday to 5.9% QoQ (SAAR) mainly due to inventories. Consumption only grew by 1.7% in the fourth quarter (revised down from 2.0%).
• We are bullish on risk today and buy on dips in equities.