Archive for May, 2015
Monday, May 4th, 2015
Via the FT:
China's manufacturing sector deteriorated more than originally thought in April, according to the final reading of the HSBC Markit 'flash' PMI.
The index now comes in at 48.9 for the month, versus an original reading of 49.2 and versus expectations that it would only end up at 49.4. The ...
Posted in Uncategorized | Comments Off on China PMI
Monday, May 4th, 2015
Via Kit Juckes at SocGen:
<http://www.sgresearch.com/r/?id=hda31982,127b4c11,127b4c12&p1=136122&p2=714caea24ee3399d0af2ca3e9863d93d>
The UK election is going nowhere and minority government appears as likely as ever. If you missed the weekend news it mostly saw Ed Milliband displaying his stonemasonary skills. Sterling strategy - sell in May and go away. In my case, to New York tomorrow, which ...
Posted in Uncategorized | Comments Off on Comments on Macroeconomics and FX
Sunday, May 3rd, 2015
I have not followed the debate but judging by this WSJ piece by Professor John Taylor ( Taylor Rule inventor) he and former Fed Chairman Bernanke have been in involved in a friendly intellectual battle royal about rules based monetary policy.
Professor Taylor would argue and assert that at the current ...
Posted in Uncategorized | 3 Comments »
Sunday, May 3rd, 2015
Gavyn Davies of the FT has a nice summary of the slowdown in global growth. Most analysts he notes remain optimistic and expect the slowdown to be temporary.
Via the FT:
Global growth report card – is the world slowdown temporary?
Gavyn Davies | May 03 16:12 ...
Posted in Uncategorized | Comments Off on Global Slowdown
Sunday, May 3rd, 2015
Via the WSJ:
Markets Credit Markets
Trading in Greek Government Bonds Slows to a Trickle
Greece’s standoff with creditors has slashed trading in its government debt, with prices swinging wildly
By Christopher Whittall And
Tommy Stubbington
May 3, 2015 4:28 p.m. ET
0 COMMENTS
Greece’s standoff with creditors has investors speculating once again about the impact of a ...
Posted in Uncategorized | Comments Off on Trading in Greek Bonds: Light Activity
Sunday, May 3rd, 2015
Via Robert Sinche at Amherst Pierpont Securities:
AUSTRALIA: TS Securities puts out a monthly inflation report to supplement the official quarterly release; the index has been hovering around 1.5% YOY this year, and the April index should remain close to that level.
CHINA: The HSBC/Markit final Manufacturing PMI is expected (BBerg consensus) ...
Posted in Uncategorized | Comments Off on Overnight Data
Sunday, May 3rd, 2015
Via Bloomberg:
Two Federal Reserve officials, in the first comments by policy makers since their gathering earlier this week, said the central bank is ready to raise interest rates at any meeting as the economy picks up after a harsh winter.
“All meetings are on the table” for the first rate rise ...
Posted in Uncategorized | Comments Off on Mester and Williams on Timing on Rate Hikes
Saturday, May 2nd, 2015
Via Barron's :
By Amey Stone
It’s not only parents that need to worry about the rising costs of college, says Rick Rieder, chief investment officer for fixed-income at BlackRock. In a recent blog post, he lists four main reasons why the high cost of a college degree is a drag on ...
Posted in Uncategorized | Comments Off on Cost of College
Saturday, May 2nd, 2015
The WSJ reports on the state of the auto business and finds that sector quite healthy. The industry expects its best sales year in a decade this year as (still) low interest rates and cheap gas motivate buyers. The story notes that buyers are craving luxury and accessories. The one ...
Posted in Uncategorized | Comments Off on Auto Business
Friday, May 1st, 2015
Via Merrill Lynch Research:
1994, 2004, 2015
We remain strategically underweight high grade corporate credit.
We also remain concerned that the heavy May new issue pipeline will prove...
...difficult for the market to digest amidst renewed concerns about interest rate risk.
1994, 2004, 2015. It seems that we skipped a year in that sequence. While ...
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