Summary: Euro-zone composite sentiment index up in January, above expectations; readings up in four of five sectors; up in all four largest euro-zone economies; German, French 10-year yields noticeably higher; index implies annual GDP growth rate of 1.5%. The European Commission’s Economic Sentiment Indicator (ESI) is a composite index comprising five differently weighted sectoral confidence indicators. It is heavily weighted towards confidence surveys from the business sector, with the consumer...