In general, the good news continues. The EU economy has now been reporting positive news for over a year. Japanese and Australian indicators also paint a positive picture. The UK, however, may have problem. CPI was 3.1%, which the BOE attributed to a weak sterling. However, granular CPI data in this week’s report showed price increases in a variety of sub-categories. It’s difficult to attribute the breadth of the increases to a weaker currency.