Archive for December, 2015
Wednesday, December 2nd, 2015
Via Robert Sinche at Amherst Pierpont Securities:
CHINA: After falling to a recent low of 48.0 in September, the Markit Composite PMI rebounded sharply to 49.9 in October and the slight rise in the Markit Manufacturing PMI suggests the Composite PMI could inch above 50 for the first time since July.
AUSTRALIA: ...
Posted in Uncategorized | Comments Off on Overnight Data Preview
Wednesday, December 2nd, 2015
Via Stephen Stanley at Amherst Pierpont Securities;
Nonfarm business productivity for Q3 was revised higher, in line with the upward adjustment to GDP reported last week. The productivity figure was boosted from a preliminary 1.6% annualized gain to a 2.2% pace of increase. That makes two solid quarters in a row ...
Posted in Uncategorized | 1 Comment »
Wednesday, December 2nd, 2015
Via Kit Juckes at SocGen:
<http://www.sgmarkets.com/r/?id=hf42adf5,1508172f,15081730&p1=136122&p2=d2d0bae8a9c7e25c2d58b47f770a927b>
Just 8.6% of US jobs are in manufacturing, but the monthly manufacturing ISM report still attracts plenty of attention and as it fell below 50 yesterday, the contrast with an uptrend in Europe was stark. Is that what we mean by divergence? The index has fallen ...
Posted in Uncategorized | Comments Off on More FX
Wednesday, December 2nd, 2015
Via TDSecurities:
ECB: What’s priced in for rates
§ The ECB meeting this week comes amid significant speculation about additional easing steps. However, given the number of permutations of easing steps via deposit rate cut, current account limits/two-tiered deposit rate structure, QE extension or changes to QE rules, it is difficult to ...
Posted in Uncategorized | Comments Off on Pricing the ECB
Wednesday, December 2nd, 2015
Via Marc Chandler at Brown Brothers Harriman:
The Wait is Nearly Over, and the Dollar Catches a Bid
- The softer than expected preliminary EMU inflation figures encourages expectations for the more aggressive range of actions by the ECB tomorrow
- The November employment report is seen as the last hurdle to a ...
Posted in Uncategorized | Comments Off on FX
Tuesday, December 1st, 2015
Via Millan Mulraine at TDSecurities:
TD SECURITIES DATAFLASH
US: ISM Manufacturing Index Falls to Post-Recession Low
· The headline ISM manufacturing sector index declined to its lowest level since June 2009, falling to 48.6 in November from 50.1.
· The sharp drop in the index was in stark contrast to the market consensus for ...
Posted in Uncategorized | 1 Comment »
Tuesday, December 1st, 2015
Via Bloomberg:
WHAT TO WATCH:
* (All times New York)
* Economic Data
* 9:45am: Markit US Mfg PMI, Nov F, est. 52.6 (prior 52.6)
* 10:00am: Construction Spending m/m, Oct., est. 0.6%
(prior 0.6%)
* 10:00am: ISM Manufacturing Index, Nov., est. 50.5 (prior
50.1)
* ISM Prices Paid, Nov., est. 40 (prior 39)
* TBA: Wards Domestic Vehicle Sales, ...
Posted in Uncategorized | Comments Off on What to Watch Today
Tuesday, December 1st, 2015
Via Marc Chandler at Brown Brothers Harriman:
Dollar Trades Heavier, Key Events Awaited
- The US dollar is trading with a heavier bias today amid some last minute position squaring ahead of the key events that are stacked in the second half of the week
- The eurozone’s manufacturing PMI matched the flash ...
Posted in Uncategorized | Comments Off on FX
Tuesday, December 1st, 2015
This WSJ story depicts the depth of the competition between Saudi Arabia and Russia for oil dominance in Europe as each mega producer fights for market share.
Via the WSJ:
By Selina Williams, Summer Said and Benoît Faucon
Dec. 1, 2015 12:33 a.m. ET
0 COMMENTS
LONDON—A contest for dominance in Europe’s oil market is ...
Posted in Uncategorized | Comments Off on Petro Fight
Tuesday, December 1st, 2015
Via Bloomberg:
Rule calls for future rescues to involve at least five firms
Dodd-Frank dictated changes amid furor over AIG, Bear Stearns
The Federal Reserve took the final step to ensure it can’t repeat the extraordinary measures taken to rescue American International Group Inc. and Bear Stearns Cos. in 2008, adopting formal restrictions ...
Posted in Uncategorized | Comments Off on Fed Votes to Neuter Itself