Archive for April, 2015
Wednesday, April 29th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 7:00am: MBA Mortgage Applications, April 24 (prior 2.3%)
* 8:30am: GDP q/q, 1Q, est. 1% (prior 2.2%)
* Personal Consumption, 1Q, est. 1.7% (prior 4.4%)
* GDP Price Index, 1Q, est. 0.5% (prior 0.1%)
* Core PCE q/q, 1Q, est. 1% (prior 1.1%)
* Core ...
Posted in Uncategorized | Comments Off on What to Watch Today
Wednesday, April 29th, 2015
Via Eric Green at TDSecurities:
Poetry in Motion
It is poetic that both GDP data and the FOMC both take the spotlight on the same day because how growth evolves from here is increasingly central to whether or not the Fed’s current bias to raise rates in September gets sufficient room to ...
Posted in Uncategorized | Comments Off on GDP and FOMC
Wednesday, April 29th, 2015
Via Merrill Lynch Research (last evening):
Front end weakness broadening out. As we have highlighted repeatedly short term high grade bond funds have seen persistent, meaningful outflows over the past several months as we have moved closer to the start of the Fed's rate hiking cycle. So far redemptions appear to ...
Posted in Uncategorized | Comments Off on Eclectic Stuff Via Merrill Lynch
Wednesday, April 29th, 2015
Kit Juckes of SocGen weighs in on the FOMC. US GDP and the dollar.
Via Kit Juckes of SocGen:
<http://www.sgresearch.com/r/?id=hd99160f,126d4625,126d4626&p1=136122&p2=6779d4853ec6fd014bc50d7e2e6fcb12>
The small fact of the day is that US Q1 GDP growth has averaged just 0.6%in 2010-2014, with H1 growth coming in at 1.8% and H2 growth at 2.8%. There has been a ...
Posted in Uncategorized | Comments Off on Regarding the Mighty Greenback
Tuesday, April 28th, 2015
When I worked at JPMorgan in the 90s one client whom I covered would waltz about twice a year and rail about the low rates in Japan and how stupid they were. He would proceed to hand over some premium to us as he would buy out of the money ...
Posted in Uncategorized | 1 Comment »
Tuesday, April 28th, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:00am: S&P/CS 20 City m/m SA, Feb., est. 0.7% (prior
0.87%)
* S&P/CS Composite-20 y/y, Feb., est. 4.70% (prior
4.56%)
* S&P/CaseShiller 20-City Index NSA, Feb., est. 173.13
(prior 172.94)
* S&P/Case-Shiller US HPI m/m, Feb. (prior 0.57%)
* S&P/Case-Shiller US HPI y/y, Feb. (prior 4.47%)
* S&P/Case-Shiller ...
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, April 28th, 2015
Via Marc Chandler at Brown Brothers Harriman:
Market Shrugs Off Poor Japanese and UK Data
- The US dollar remains on the defensive even after both Japan and the UK reported disappointing data
- Only a small minority of market participants expect the BOJ to expand QE on Thursday
- The preliminary estimate of ...
Posted in Uncategorized | Comments Off on FX
Monday, April 27th, 2015
Via the FT:
Several widely-watched gauges of US inflation expectations have climbed to their highest levels this year, as oil prices regain their footing and some investors bet that the Federal Reserve will be slow in quelling any price pressures.
The US 10-year “break-even” rate measures the market’s expectations of average inflation ...
Posted in Uncategorized | 1 Comment »
Monday, April 27th, 2015
The WSJ has an interesting to me article on technological change and its potential impact on the condusct of monetary policy.
Via the WSJ:
The fast-changing technological infrastructure of financial transactions, including nonbank finance, digital currencies, peer-to-peer lending and crowd-funding present a challenge to the monetary policies of the Federal Reserve and ...
Posted in Uncategorized | Comments Off on Technology and Monetary Policy
Monday, April 27th, 2015
Via Merrill Lynch Research:
Pumping Iron. Our overweight on the Base Metals Mining sector is based on our bullish view on the China related stories this year (see: Credit into the rate hiking cycle). The update to the China story is that the country has begun to deliver more than expected ...
Posted in Uncategorized | Comments Off on Eclectic (Very) Topics Via Merrill Lynch