With fond memories of Christmas and the New Year still fresh in the mind, the winter market data party season kicked off this week with two splendid events in London.

On Wednesday, it was off to Mirabelle for Reuters' Hogmanay lunch—New Year's Eve for those without a tartan—for journalists, analysts and other friends.

IMD's very own publisher, Adrian Goulbourn, had the honor of addressing the haggis. This is usually done by a Clan chief, who recites eight verses of a poem by Robert Burns, the

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